Edgestream Partners L.P. Invests $3.38 Million in nCino Inc. $NCNO

Key Points

• Edgestream Partners L.P. acquired 225,462 shares of nCino worth approximately $3.38 million, representing about 0.21% of the company. Institutional investors and hedge funds collectively own 94.76% of nCino.
• nCino shares opened at $18.46, versus a 52-week range of $13.80 to $33.92, with a market capitalization of roughly $2.02 billion. The stock carries a high price-to-earnings ratio of 153.83.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $25.29. Recent insider sales included transactions by the CEO and a senior vice president, totaling 119,964 shares over 90 days.

Edgestream Partners L.P. bought a new position in nCino Inc. (NASDAQ:NCNO - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 225,462 shares of the company's stock, valued at approximately $3,377,000. Edgestream Partners L.P. owned approximately 0.21% of nCino at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hawk Ridge Capital Management LP boosted its stake 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 acquiring an additional 3,864,010 shares during the period. Algebris UK Ltd. grew its holdings in shares of nCino by 266.2% during the fourth quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company's stock valued at $26,493,000 after purchasing an additional 750,744 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of nCino during the 4th quarter worth approximately $3,982,000. Royce & Associates LP bought a new stake in shares of nCino in the 4th quarter worth approximately $3,681,000. Finally, American Capital Management Inc. lifted its holdings in shares of nCino by 17.1% in the 1st quarter. American Capital Management Inc. now owns 2,375,396 shares of the company's stock worth $35,583,000 after purchasing an additional 347,587 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at nCino

In other news, SVP Jeanette Sellers sold 3,695 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $18.04, for a total transaction of $66,657.80. Following the completion of the sale, the senior vice president owned 50,876 shares in the company, valued at approximately $917,803.04. This represents a 6.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sean Desmond sold 22,073 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $397,755.46. Following the sale, the chief executive officer directly owned 1,271,016 shares of the company's stock, valued at approximately $22,903,708.32. This represents a 1.71% decrease in their ownership of the stock. 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 have sold a total of 119,964 shares of company stock valued at $2,143,529 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

nCino Stock Performance

NASDAQ:NCNO opened at $18.46 on Friday. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $16.41 and a 200-day moving average of $17.28. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 153.83 and a beta of 0.68.

Wall Street Analysts Forecast Growth

NCNO has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of nCino from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, June 22nd. Zacks Research cut shares of nCino from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Wall Street Zen upgraded shares of nCino from a "hold" rating to a "buy" rating in a research report on Saturday, April 4th. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 price objective on shares of nCino in a research report on Thursday, May 28th. Finally, Citigroup reissued a "market outperform" rating on shares of nCino in a research note on Monday, June 22nd. One research 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 given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.29.

About nCino

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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