nCino Inc. $NCNO Shares Purchased by Algebris UK Ltd.

Key Points

• Algebris UK Ltd. boosted its nCino stake by 266.2% in the fourth quarter, buying 750,744 additional shares and bringing its total holding to 1,032,782 shares worth about $26.5 million.
• Institutional ownership remains very high, with hedge funds and other investors controlling 94.76% of nCino’s stock. Several firms, including Vanguard and Conestoga Capital Advisors, also increased their positions.
• Analysts are mixed but generally constructive: nCino has an average rating of “Moderate Buy” with a target price of $25.21, even as some firms cut targets. The company recently beat quarterly EPS and revenue estimates, though insiders have sold shares in recent months.

Algebris UK Ltd. grew its stake in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 266.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,032,782 shares of the company's stock after purchasing an additional 750,744 shares during the quarter. nCino makes up about 1.3% of Algebris UK Ltd.'s holdings, making the stock its 20th biggest position. Algebris UK Ltd. owned 0.90% of nCino worth $26,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in nCino by 1.7% during the third quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company's stock worth $323,279,000 after purchasing an additional 201,499 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of nCino by 25.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company's stock valued at $73,357,000 after acquiring an additional 585,786 shares during the period. Bank of America Corp DE increased its holdings in shares of nCino by 475.1% in the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company's stock valued at $68,146,000 after acquiring an additional 2,076,579 shares during the period. Spyglass Capital Management LLC increased its holdings in shares of nCino by 36.0% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,149,090 shares of the company's stock valued at $58,262,000 after acquiring an additional 569,166 shares during the period. Finally, Bamco Inc. NY increased its holdings in shares of nCino by 12.0% in the 2nd quarter. Bamco Inc. NY now owns 2,052,953 shares of the company's stock valued at $57,421,000 after acquiring an additional 220,028 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NCNO shares. Piper Sandler raised shares of nCino from a "neutral" rating to an "overweight" rating and cut their target price for the company from $30.00 to $22.00 in a report on Wednesday, April 1st. Zacks Research raised shares of nCino from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of nCino in a report on Thursday, January 22nd. Wall Street Zen raised shares of nCino from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Finally, Citizens Jmp cut their target price on shares of nCino from $32.00 to $23.00 and set a "market outperform" rating on the stock in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $25.21.

Insider Activity at nCino

In other nCino news, SVP Jeanette Sellers sold 3,695 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $18.04, for a total transaction of $66,657.80. Following the sale, the senior vice president directly owned 50,876 shares in the company, valued at approximately $917,803.04. The trade was a 6.77% decrease in their position. The sale 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. Also, Director Pierre Naude sold 35,650 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $642,413.00. Following the sale, the director owned 1,108,473 shares in the company, valued at $19,974,683.46. The trade was a 3.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 164,918 shares of company stock worth $2,900,939. 1.90% of the stock is currently owned by insiders.

nCino Stock Performance

NASDAQ:NCNO opened at $15.47 on Thursday. The firm's fifty day moving average price is $16.47 and its 200 day moving average price is $20.47. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 309.40 and a beta of 0.72.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.21 by $0.16. The company had revenue of $149.67 million for the quarter, compared to analyst estimates of $147.41 million. nCino had a net margin of 0.87% and a return on equity of 4.75%. The business's revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. On average, sell-side analysts expect that nCino Inc. will post 0.52 EPS for the current year.

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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