Insight Holdings Group LLC Cuts Holdings in nCino Inc. $NCNO

Key Points

• Insight Holdings Group LLC reduced its stake in nCino Inc. by 1.2% in Q1, retaining 4.46 million shares valued at approximately $122.48 million, which represents about 9.5% of its holdings.
• nCino reported earnings exceeding expectations with an EPS of $0.22 for the most recent quarter, significantly up from $0.14 year-over-year, and a revenue of $148.82 million, a 12.4% increase.
• Significant institutional interest is evident, with 94.76% of nCino's stock owned by hedge funds and institutional investors, demonstrating strong market confidence in the company's future prospects.

Insight Holdings Group LLC cut its holdings in nCino Inc. (NASDAQ:NCNO - Free Report) by 1.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,458,591 shares of the company's stock after selling 54,876 shares during the period. nCino comprises approximately 9.5% of Insight Holdings Group LLC's investment portfolio, making the stock its 4th biggest holding. Insight Holdings Group LLC owned approximately 3.87% of nCino worth $122,477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its position in shares of nCino by 3.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 24,656 shares of the company's stock valued at $828,000 after acquiring an additional 772 shares during the period. Northern Trust Corp lifted its holdings in shares of nCino by 14.1% in the fourth quarter. Northern Trust Corp now owns 612,902 shares of the company's stock worth $20,581,000 after acquiring an additional 75,592 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of nCino by 140.5% in the fourth quarter. Ameriprise Financial Inc. now owns 2,900,467 shares of the company's stock worth $97,398,000 after acquiring an additional 1,694,218 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of nCino in the fourth quarter worth about $153,000. Finally, Centiva Capital LP lifted its holdings in shares of nCino by 233.9% in the fourth quarter. Centiva Capital LP now owns 30,653 shares of the company's stock worth $1,029,000 after acquiring an additional 21,472 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of nCino from $28.00 to $33.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Citigroup reissued an "outperform" rating on shares of nCino in a report on Wednesday, August 27th. Scotiabank reissued a "sector perform" rating and issued a $26.00 target price (up previously from $19.00) on shares of nCino in a report on Wednesday, May 21st. Piper Sandler increased their target price on shares of nCino from $28.00 to $34.00 and gave the stock a "neutral" rating in a report on Wednesday, August 27th. Finally, Needham & Company LLC upped their price objective on nCino from $33.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $33.94.

Insider Activity

In other nCino news, insider April Rieger sold 3,028 shares of the 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 transaction, the insider directly owned 240,523 shares in the company, valued at approximately $6,602,356.35. This represents a 1.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff Horing sold 282,367 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $32.23, for a total value of $9,100,688.41. Following the transaction, the director owned 3,915,422 shares in the company, valued at $126,194,051.06. The trade was a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 564,772 shares of company stock worth $18,159,324. Company insiders own 5.70% of the company's stock.

nCino Trading Down 0.2%

Shares of nCino stock traded down $0.05 on Friday, hitting $30.40. The stock had a trading volume of 2,222,355 shares, compared to its average volume of 1,965,486. The stock has a 50 day moving average of $29.13 and a 200 day moving average of $27.27. nCino Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $3.52 billion, a P/E ratio of -104.83, a PEG ratio of 20.05 and a beta of 0.71.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings data on Tuesday, August 26th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.08. The company had revenue of $148.82 million during the quarter, compared to the consensus estimate of $143.17 million. nCino had a positive return on equity of 1.18% and a negative net margin of 5.86%.The firm's revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior 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. Sell-side analysts expect that nCino Inc. will post 0.12 earnings per share for the current fiscal year.

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.