Ranger Investment Management L.P. Purchases Shares of 975,055 nCino Inc. $NCNO

Key Points

• Ranger Investment Management acquired 975,055 nCino shares worth approximately $15.9 million, giving it a 0.89% stake. Institutional investors collectively own 94.76% of the company.
• Analysts maintain a generally positive outlook, with nCino receiving a “Moderate Buy” consensus rating and an average price target of $25.29, despite some firms lowering their targets.
• nCino shares opened at $20.62, compared with a 52-week range of $13.80 to $33.92. Recent insider sales were primarily conducted to cover tax obligations tied to vested equity awards.

Ranger Investment Management L.P. purchased a new stake in shares of nCino Inc. (NASDAQ:NCNO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 975,055 shares of the company's stock, valued at approximately $15,942,000. Ranger Investment Management L.P. owned about 0.89% of nCino as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia purchased a new stake in shares of nCino in the 2nd quarter worth $2,696,000. Northwestern Mutual Wealth Management Co. purchased a new position in nCino during the second quarter valued at $238,000. Callan Family Office LLC bought a new stake in nCino during the second quarter valued at about $209,000. Allworth Financial LP bought a new stake in nCino during the second quarter valued at about $217,000. Finally, Advisors Capital Management LLC purchased a new stake in nCino in the second quarter worth about $1,238,000. 94.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on NCNO shares. Citizens Jmp decreased their price objective on nCino from $32.00 to $23.00 and set a "market outperform" rating on the stock in a research note on Monday, May 18th. The Goldman Sachs Group reduced their target price on shares of nCino from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, May 14th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of nCino in a research note on Wednesday, June 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price target on shares of nCino in a report on Thursday, May 28th. Finally, Citigroup reiterated a "market outperform" rating on shares of nCino in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.29.

Insider Buying and Selling

In other nCino news, SVP Jeanette Sellers sold 1,536 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 48,453 shares in the company, valued at $946,287.09. This represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $150,915.44. Following the sale, the insider directly owned 375,749 shares of the company's stock, valued at approximately $7,221,895.78. This trade represents a 2.05% 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 sold 83,350 shares of company stock worth $1,568,144 in the last quarter. 1.90% of the stock is owned by insiders.

nCino Stock Performance

NASDAQ NCNO opened at $20.62 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92. The business has a 50-day moving average price of $17.66 and a 200-day moving average price of $16.84. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 171.83 and a beta of 0.66.

nCino Profile

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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