Senvest Management LLC Has $79.52 Million Holdings in nCino Inc. $NCNO

Key Points

• Senvest Management LLC increased its nCino stake by 30.2% in the first quarter, buying 1.23 million more shares and bringing its total holding to 5.31 million shares worth about $79.5 million.
• nCino remains heavily owned by institutions, with 94.76% of shares held by institutional investors. Several other firms also recently boosted or initiated positions in the stock.
• Wall Street’s view is mixed but generally positive: nCino has a Moderate Buy consensus rating and an average price target of $25.29, while insiders recently sold shares and the stock traded at $16.56, well below its 52-week high.

Senvest Management LLC boosted its stake in nCino Inc. (NASDAQ:NCNO - Free Report) by 30.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,308,468 shares of the company's stock after purchasing an additional 1,230,192 shares during the period. nCino comprises approximately 2.6% of Senvest Management LLC's investment portfolio, making the stock its 13th biggest position. Senvest Management LLC owned approximately 4.88% of nCino worth $79,521,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Algebris UK Ltd. lifted its stake in shares of nCino by 266.2% in the fourth quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company's stock worth $26,493,000 after acquiring an additional 750,744 shares during the period. Hsbc Holdings PLC acquired a new stake in nCino during the 4th quarter valued at approximately $3,982,000. Royce & Associates LP acquired a new stake in nCino during the 4th quarter valued at approximately $3,681,000. Comerica Bank increased its position in nCino by 49.2% during the 4th quarter. Comerica Bank now owns 337,231 shares of the company's stock valued at $8,647,000 after purchasing an additional 111,182 shares during the period. Finally, SG Americas Securities LLC raised its holdings in nCino by 170.5% during the 4th quarter. SG Americas Securities LLC now owns 51,368 shares of the company's stock worth $1,317,000 after purchasing an additional 32,378 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

nCino Price Performance

nCino stock opened at $16.56 on Friday. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 138.00 and a beta of 0.68. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $33.92. The stock's 50 day moving average price is $16.12 and its two-hundred day moving average price is $17.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NCNO shares. Wall Street Zen raised shares of nCino from a "hold" rating to a "buy" rating in a research note on Saturday, April 4th. Weiss Ratings raised shares of nCino from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 28th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of nCino in a report on Wednesday, June 24th. JPMorgan Chase & Co. upped their price target on shares of nCino from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, June 22nd. Finally, The Goldman Sachs Group decreased their price target on nCino from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.29.

Insider Buying and Selling

In related news, Director Pierre Naude sold 35,650 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $642,413.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeanette Sellers sold 3,695 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $18.04, for a total transaction of $66,657.80. Following the transaction, the senior vice president directly owned 50,876 shares in the company, valued at approximately $917,803.04. This represents a 6.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 119,964 shares of company stock worth $2,143,529 over the last ninety days. 1.90% of the stock is owned by company insiders.

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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