nCino Inc. $NCNO Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC reduced its stake in nCino Inc. by 11.2% in Q1, owning approximately 1,097,959 shares valued at $30.16 million after the sale.
• A number of hedge funds increased their positions in nCino during the same period, with Covestor Ltd and First Horizon Advisors Inc. boosting their stakes by 27.6% and 22.5%, respectively.
• nCino reported its Q2 earnings per share of $0.22, exceeding analysts' expectations of $0.14, while also achieving revenue growth of 12.4% year-over-year.

Fred Alger Management LLC reduced its position in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 11.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,097,959 shares of the company's stock after selling 138,981 shares during the quarter. Fred Alger Management LLC owned about 0.95% of nCino worth $30,161,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd lifted its position in nCino by 27.6% in the first quarter. Covestor Ltd now owns 2,388 shares of the company's stock worth $66,000 after buying an additional 517 shares during the last quarter. First Horizon Advisors Inc. lifted its position in nCino by 22.5% in the first quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock worth $80,000 after buying an additional 538 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in nCino in the first quarter worth $82,000. Quantbot Technologies LP bought a new stake in nCino in the first quarter worth $102,000. Finally, Asset Management One Co. Ltd. lifted its position in nCino by 63.1% in the first quarter. Asset Management One Co. Ltd. now owns 3,718 shares of the company's stock worth $102,000 after buying an additional 1,439 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider April Rieger sold 3,028 shares of the firm's stock in a transaction 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 transaction, the insider owned 240,523 shares in the company, valued at approximately $6,602,356.35. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sean Desmond sold 9,550 shares of the firm's stock in a transaction 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 owned 628,603 shares in the company, valued at approximately $17,255,152.35. This represents a 1.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,480,723 shares of company stock valued at $135,667,553. Company insiders own 5.70% of the company's stock.

nCino Stock Down 1.2%

Shares of nCino stock traded down $0.37 during trading on Friday, hitting $30.09. 1,360,476 shares of the stock traded hands, compared to its average volume of 2,307,113. The firm has a market cap of $3.48 billion, a P/E ratio of -103.76, a price-to-earnings-growth ratio of 20.09 and a beta of 0.71. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.24. nCino Inc. has a 52-week low of $18.75 and a 52-week high of $43.20. The stock's fifty day simple moving average is $29.34 and its 200 day simple moving average is $27.26.

nCino (NASDAQ:NCNO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 26th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08. The firm had revenue of $148.82 million for the quarter, compared to analyst estimates of $143.17 million. nCino had a positive return on equity of 1.18% and a negative net margin of 5.86%.The business's revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 earnings per share. nCino has set its FY 2026 guidance at 0.770-0.800 EPS. Q3 2026 guidance at 0.200-0.21 EPS. On average, equities analysts predict that nCino Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NCNO has been the subject of a number of analyst reports. Baird R W upgraded nCino from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 14th. Citigroup restated an "outperform" rating on shares of nCino in a research report on Wednesday, August 27th. Needham & Company LLC lifted their target price on nCino from $33.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Zacks Research downgraded nCino from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Finally, Bank of America lifted their target price on nCino from $34.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $33.94.

nCino Company 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.