nCino Inc. $NCNO Shares Bought by Sepio Capital LP

Key Points

• Sepio Capital LP increased its nCino stake by 942.4% in the third quarter, acquiring 170,912 additional shares for a total holding of 189,047 shares valued at approximately $3.43 million.
• Analysts maintain a generally positive outlook, with nCino receiving a consensus “Moderate Buy” rating and an average price target of $23.42; individual targets range up to $25.
• nCino shares opened at $23.34, with a market capitalization of $2.47 billion. Institutional investors own 94.76% of the stock, while insiders sold shares primarily to cover tax withholding obligations related to equity awards.

Sepio Capital LP grew its holdings in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 942.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,047 shares of the company's stock after purchasing an additional 170,912 shares during the period. Sepio Capital LP owned approximately 0.18% of nCino worth $3,427,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in shares of nCino by 9.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,467 shares of the company's stock valued at $187,000 after buying an additional 1,039 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in nCino by 4.4% during the first quarter. Kornitzer Capital Management Inc. KS now owns 25,915 shares of the company's stock worth $388,000 after acquiring an additional 1,087 shares during the period. The Manufacturers Life Insurance Company grew its holdings in nCino by 8.5% during the first quarter. The Manufacturers Life Insurance Company now owns 23,973 shares of the company's stock worth $359,000 after acquiring an additional 1,870 shares during the period. IFP Advisors Inc grew its holdings in nCino by 7,370.4% during the second quarter. IFP Advisors Inc now owns 2,017 shares of the company's stock worth $33,000 after acquiring an additional 1,990 shares during the period. Finally, Bleakley Financial Group LLC raised its position in nCino by 7.2% in the first quarter. Bleakley Financial Group LLC now owns 30,525 shares of the company's stock worth $457,000 after acquiring an additional 2,054 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays raised their target price on nCino from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday, August 26th. Zacks Research cut shares of nCino from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Piper Sandler assumed coverage on shares of nCino in a research note on Monday, August 24th. They set an "overweight" rating and a $25.00 price target on the stock. KeyCorp reiterated a "sector weight" rating on shares of nCino in a report on Monday, October 12th. Finally, Citigroup reiterated a "market outperform" rating on shares of nCino in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $23.42.

Insider Activity

In other nCino news, SVP Jeanette Sellers sold 1,536 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total value of $29,998.08. Following the sale, the senior vice president owned 48,453 shares of the company's stock, valued at approximately $946,287.09. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 firm's stock in a transaction on Tuesday, August 4th. The shares were 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 approximately $7,221,895.78. This represents 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 134,130 shares of company stock valued at $2,662,794 in the last 90 days. Insiders own 1.90% of the company's stock.

nCino Stock Performance

NCNO opened at $23.34 on Friday. The stock has a market cap of $2.47 billion, a P/E ratio of 77.80 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. The stock's 50 day simple moving average is $20.82 and its 200 day simple moving average is $18.30. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $27.50.

nCino Profile

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.

The company's products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.

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