Fox Run Management L.L.C. Invests $409,000 in nCino Inc. $NCNO

Key Points

• Fox Run Management L.L.C. invested approximately $409,000 to acquire 14,884 shares of nCino Inc. during the first quarter.
• Insider transactions included April Rieger and CEO Sean Desmond selling shares at an average price of $27.45, decreasing their positions by 1.24% and 1.50%, respectively.
• nCino Inc. reported $144.14 million in revenue for the last quarter, exceeding analysts' estimates and reflecting a year-over-year growth of 12.5%.

Fox Run Management L.L.C. acquired a new stake in nCino Inc. (NASDAQ:NCNO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,884 shares of the company's stock, valued at approximately $409,000.

Other large investors have also bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in shares of nCino during the fourth quarter valued at about $57,000. Covestor Ltd grew its stake in nCino by 27.6% in the first quarter. Covestor Ltd now owns 2,388 shares of the company's stock valued at $66,000 after acquiring an additional 517 shares during the period. First Horizon Advisors Inc. grew its stake in nCino by 22.5% in the first quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock valued at $80,000 after acquiring an additional 538 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of nCino during the first quarter valued at approximately $82,000. Finally, Asset Management One Co. Ltd. boosted its position in shares of nCino by 63.1% during the first quarter. Asset Management One Co. Ltd. now owns 3,718 shares of the company's stock valued at $102,000 after buying an additional 1,439 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider April Rieger sold 3,028 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $27.45, for a total transaction of $83,118.60. Following the completion of the transaction, the insider owned 240,523 shares of the company's stock, valued at $6,602,356.35. This trade represents a 1.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sean Desmond sold 9,550 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $27.45, for a total value of $262,147.50. Following the transaction, the chief executive officer directly owned 628,603 shares of the company's stock, valued at approximately $17,255,152.35. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,603 shares of company stock worth $593,002 in the last 90 days. Corporate insiders own 5.70% of the company's stock.

nCino Stock Up 1.1%

Shares of NASDAQ:NCNO opened at $28.06 on Tuesday. nCino Inc. has a 52-week low of $18.75 and a 52-week high of $43.20. The firm has a market capitalization of $3.25 billion, a P/E ratio of -107.92, a P/E/G ratio of 27.64 and a beta of 0.77. The stock has a 50 day moving average price of $28.25 and a 200-day moving average price of $27.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.05.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The company had revenue of $144.14 million during the quarter, compared to analyst estimates of $139.77 million. During the same quarter last year, the company earned $0.19 EPS. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities research analysts anticipate that nCino Inc. will post 0.12 EPS for the current fiscal year.

Analyst Ratings Changes

NCNO has been the topic of several analyst reports. Piper Sandler reaffirmed a "neutral" rating and set a $28.00 target price (up previously from $25.00) on shares of nCino in a research report on Thursday, May 29th. JMP Securities boosted their price objective on nCino from $32.00 to $35.00 and gave the stock a "market outperform" rating in a research report on Monday, June 9th. Raymond James Financial reissued an "outperform" rating and issued a $35.00 price objective (up previously from $32.00) on shares of nCino in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their target price on nCino from $28.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Finally, Needham & Company LLC restated a "buy" rating and issued a $33.00 target price on shares of nCino in a research note on Thursday, May 29th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, nCino presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

nCino Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.

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