Ranger Investment Management L.P. Has $15.83 Million Stock Holdings in nCino Inc. $NCNO

Key Points

• Ranger Investment Management reduced its nCino stake by 6.7% in the first quarter, selling 75,904 shares and retaining 1,056,960 shares worth approximately $15.83 million.
• Other institutional investors were more aggressive: Senvest, Hawk Ridge, Spyglass, Conestoga and Bank of America all increased their positions. Institutions and hedge funds collectively own 94.76% of nCino.
• nCino shares recently traded at $18.51, up 4.9%, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $25.29.

Ranger Investment Management L.P. trimmed its holdings in nCino Inc. (NASDAQ:NCNO - Free Report) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,056,960 shares of the company's stock after selling 75,904 shares during the period. Ranger Investment Management L.P. owned about 0.97% of nCino worth $15,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NCNO. Senvest Management LLC raised its holdings in shares of nCino by 30.2% in the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company's stock worth $79,521,000 after acquiring an additional 1,230,192 shares during the last quarter. Hawk Ridge Capital Management LP boosted its stake in nCino by 625.4% during the 1st 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. Spyglass Capital Management LLC increased its holdings in nCino by 35.4% during the 4th quarter. Spyglass Capital Management LLC now owns 2,909,880 shares of the company's stock worth $74,609,000 after purchasing an additional 760,790 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in nCino by 25.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company's stock worth $73,357,000 after purchasing an additional 585,786 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in nCino by 475.1% during the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company's stock worth $68,146,000 after purchasing an additional 2,076,579 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 stock was sold at an average price of $18.04, for a total value of $66,657.80. Following the sale, the senior vice president directly owned 50,876 shares in the company, valued at $917,803.04. The trade was a 6.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sean Desmond sold 22,073 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $397,755.46. Following the completion of the sale, the chief executive officer owned 1,271,016 shares in the company, valued at $22,903,708.32. This represents a 1.71% 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. Over the last quarter, insiders sold 119,964 shares of company stock valued at $2,143,529. Corporate insiders own 1.90% of the company's stock.

nCino Trading Up 4.9%

NASDAQ NCNO opened at $18.51 on Wednesday. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 154.25 and a beta of 0.68. nCino Inc. has a one year low of $13.80 and a one year high of $33.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The business's fifty day moving average is $16.24 and its 200-day moving average is $17.37.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NCNO. JPMorgan Chase & Co. raised their target price on nCino from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, June 22nd. Citizens Jmp lowered their price target on nCino from $32.00 to $23.00 and set a "market outperform" rating for the company in a research report on Monday, May 18th. Piper Sandler raised shares of nCino from a "neutral" rating to an "overweight" rating and cut their price objective for the stock from $30.00 to $22.00 in a report on Wednesday, April 1st. Weiss Ratings upgraded shares of nCino from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 28th. Finally, Citigroup reiterated a "market outperform" rating on shares of nCino in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, nCino currently has a consensus rating of "Moderate Buy" and an average price target of $25.29.

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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