CM Wealth Advisors LLC Invests $1.79 Million in nCino Inc. $NCNO

Key Points

• CM Wealth Advisors initiated a $1.79 million position in nCino, purchasing 109,424 shares during the second quarter. Institutional investors and hedge funds collectively own 94.76% of the company.
• nCino shares opened at $20.69, with a market capitalization of approximately $2.27 billion. The stock has traded between $13.80 and $33.92 over the past year.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $25.29, although several firms recently issued neutral or hold ratings. Insiders sold $1.57 million worth of shares in the last quarter, primarily to cover tax obligations from vested equity awards.

CM Wealth Advisors LLC purchased a new position in shares of nCino Inc. (NASDAQ:NCNO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 109,424 shares of the company's stock, valued at approximately $1,789,000. nCino comprises about 0.3% of CM Wealth Advisors LLC's portfolio, making the stock its 25th largest position. CM Wealth Advisors LLC owned approximately 0.10% of nCino at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NCNO. Hawk Ridge Capital Management LP boosted its holdings in nCino by 625.4% in the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company's stock valued at $67,138,000 after purchasing an additional 3,864,010 shares during the last quarter. Algebris UK Ltd. boosted its position in nCino by 266.2% during the fourth quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company's stock worth $26,493,000 after purchasing an additional 750,744 shares in the last quarter. American Capital Management Inc. grew its holdings in nCino by 17.1% in the first quarter. American Capital Management Inc. now owns 2,375,396 shares of the company's stock valued at $35,583,000 after purchasing an additional 347,587 shares during the period. Hsbc Holdings PLC acquired a new stake in nCino in the fourth quarter valued at approximately $3,982,000. Finally, Spyglass Capital Management LLC increased its position in shares of nCino by 6.0% in the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company's stock valued at $46,217,000 after buying an additional 175,357 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Price Performance

Shares of NCNO opened at $20.69 on Thursday. The stock has a market cap of $2.27 billion, a PE ratio of 172.42 and a beta of 0.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92. The firm has a fifty day moving average price of $17.44 and a 200 day moving average price of $16.85.

Insider Transactions at nCino

In related news, CEO Sean Desmond sold 28,675 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $551,133.50. Following the completion of the transaction, the chief executive officer directly owned 1,234,831 shares of the company's stock, valued at $23,733,451.82. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider April Rieger sold 7,852 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $150,915.44. Following the completion of the transaction, the insider owned 375,749 shares of the company's stock, valued at $7,221,895.78. The trade was a 2.05% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 83,350 shares of company stock worth $1,568,144 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NCNO shares. JPMorgan Chase & Co. increased their price objective on nCino from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, June 22nd. Weiss Ratings upgraded shares of nCino from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. Zacks Research lowered nCino from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. The Goldman Sachs Group lowered their price target on nCino from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, May 14th. Finally, Wall Street Zen cut shares of nCino from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.29.

nCino Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.

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