Sit Investment Associates Inc. Purchases 13,955 Shares of nCino Inc. $NCNO

Key Points

• Sit Investment Associates Inc. increased its stake in nCino Inc. by 25.2% during the first quarter, now owning approximately 0.06% of the company's shares valued at about $1.9 million.
• Several other hedge funds have also boosted their holdings in nCino, contributing to institutional investors owning 94.76% of the company's stock.
• Analysts have set varying price targets for nCino, with a consensus average price target of $31.13 and a majority rating it as a "Moderate Buy."

Sit Investment Associates Inc. grew its holdings in nCino Inc. (NASDAQ:NCNO - Free Report) by 25.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,425 shares of the company's stock after purchasing an additional 13,955 shares during the period. Sit Investment Associates Inc. owned about 0.06% of nCino worth $1,907,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC raised its position in nCino by 2.8% during the first quarter. Neuberger Berman Group LLC now owns 72,873 shares of the company's stock valued at $2,002,000 after acquiring an additional 1,970 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of nCino by 71.4% during the first quarter. Russell Investments Group Ltd. now owns 180,609 shares of the company's stock valued at $4,961,000 after acquiring an additional 75,245 shares during the last quarter. Nuveen LLC acquired a new position in nCino in the 1st quarter valued at $7,790,000. Invesco Ltd. grew its holdings in shares of nCino by 3.6% during the first quarter. Invesco Ltd. now owns 2,697,437 shares of the company's stock worth $74,099,000 after buying an additional 94,940 shares in the last quarter. Finally, Covestor Ltd boosted its stake in nCino by 27.6% during the first quarter. Covestor Ltd now owns 2,388 shares of the company's stock worth $66,000 after buying an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

nCino Price Performance

NASDAQ:NCNO traded down $0.1820 during trading hours on Thursday, reaching $27.6980. The company had a trading volume of 206,355 shares, compared to its average volume of 1,715,171. The stock has a 50-day moving average of $28.28 and a two-hundred day moving average of $27.58. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.24. nCino Inc. has a one year low of $18.75 and a one year high of $43.20. The firm has a market capitalization of $3.21 billion, a PE ratio of -106.88, a PEG ratio of 27.72 and a beta of 0.77.

nCino (NASDAQ:NCNO - Get Free Report) last released its earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. The firm had revenue of $144.14 million during the quarter, compared to analyst estimates of $139.77 million. nCino had a negative net margin of 5.27% and a positive return on equity of 0.19%. The business's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 EPS. nCino has set its Q2 2026 guidance at 0.130-0.140 EPS. FY 2026 guidance at 0.690-0.720 EPS. Analysts forecast that nCino Inc. will post 0.12 earnings per share for the current year.

Analysts Set New Price Targets

NCNO has been the topic of several research reports. Keefe, Bruyette & Woods increased their target price on nCino from $28.00 to $33.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. Stephens increased their price target on shares of nCino from $24.00 to $28.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. started coverage on shares of nCino in a research report on Wednesday, June 18th. They issued a "neutral" rating and a $30.00 price target on the stock. JMP Securities increased their target price on nCino from $32.00 to $35.00 and gave the stock a "market outperform" rating in a research report on Monday, June 9th. Finally, Morgan Stanley boosted their price objective on shares of nCino from $29.00 to $33.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.13.

Insider Activity at nCino

In other nCino news, insider April Rieger sold 3,028 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $27.45, for a total value of $83,118.60. Following the transaction, the insider directly owned 240,523 shares of the company's stock, valued at $6,602,356.35. This trade represents a 1.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pierre Naude sold 4,659 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $27.45, for a total value of $127,889.55. Following the sale, the director owned 1,192,461 shares in the company, valued at approximately $32,733,054.45. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,603 shares of company stock valued at $593,002 in the last 90 days. Insiders own 5.70% of the company's stock.

About nCino

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.