nCino Inc. $NCNO Shares Sold by Susquehanna Fundamental Investments LLC

Key Points

• Susquehanna Fundamental Investments cut its nCino stake by 90.5% in the second quarter, selling 254,545 shares and retaining 26,782 shares worth about $438,000. Institutional investors still own 94.76% of the company.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $24.38 average price target. Morgan Stanley and Needham set $25 targets, while JPMorgan maintained a neutral view with a $17 target.
• nCino shares opened at $22.96, compared with a 52-week range of $13.80 to $31.92. The CEO and CFO recently sold shares under Rule 10b5-1 plans to cover tax obligations from vested equity awards.

Susquehanna Fundamental Investments LLC trimmed its holdings in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 90.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,782 shares of the company's stock after selling 254,545 shares during the period. Susquehanna Fundamental Investments LLC's holdings in nCino were worth $438,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Hawk Ridge Capital Management LP grew its holdings in shares of nCino by 625.4% during the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company's stock valued at $67,138,000 after purchasing an additional 3,864,010 shares during the last quarter. American Capital Management Inc. acquired a new position in nCino during the 2nd quarter valued at approximately $83,508,000. Algebris UK Ltd. grew its stake in nCino by 266.2% during the 4th quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company's stock worth $26,493,000 after buying an additional 750,744 shares during the last quarter. Spyglass Capital Management LLC increased its position in nCino by 6.0% in the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company's stock worth $46,217,000 after buying an additional 175,357 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in nCino in the fourth quarter worth $3,982,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NCNO. Morgan Stanley lifted their price target on nCino from $23.00 to $25.00 and gave the company an "overweight" rating in a report on Wednesday, August 26th. Zacks Research lowered shares of nCino from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. JPMorgan Chase & Co. raised their price target on shares of nCino from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, June 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 target price on shares of nCino in a report on Wednesday, August 26th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of nCino in a research report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.38.

Insider Buying and Selling at nCino

In other nCino news, CEO Sean Desmond sold 28,675 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $551,133.50. Following the completion of the sale, the chief executive officer owned 1,234,831 shares in the company, valued at approximately $23,733,451.82. The trade was a 2.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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, CFO Gregory Orenstein sold 11,780 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $226,411.60. Following the completion of the transaction, the chief financial officer owned 690,513 shares in the company, valued at $13,271,659.86. This represents a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 75,976 shares of company stock valued at $1,452,687 over the last ninety days. Company insiders own 1.90% of the company's stock.

nCino Price Performance

nCino stock opened at $22.96 on Thursday. The business's fifty day moving average is $18.83 and its two-hundred day moving average is $17.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $2.43 billion, a P/E ratio of 76.53 and a beta of 0.69. nCino Inc. has a 52 week low of $13.80 and a 52 week high of $31.92.

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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