UBS Group AG Sells 222,958 Shares of nCino Inc. $NCNO

Key Points

• UBS Group AG reduced its nCino stake by 19.8% in the fourth quarter, selling 222,958 shares and leaving it with 902,367 shares valued at about $23.1 million.
• Several analysts have recently adjusted their views on nCino, with multiple price targets cut; the consensus rating remains Moderate Buy and the average price target is $26.07.
• nCino reported better-than-expected quarterly results, posting EPS of $0.37 versus an estimate of $0.21 and revenue of $149.67 million, while insiders have also been selling shares in recent months.

UBS Group AG trimmed its position in nCino Inc. (NASDAQ:NCNO - Free Report) by 19.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 902,367 shares of the company's stock after selling 222,958 shares during the period. UBS Group AG owned about 0.79% of nCino worth $23,137,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in shares of nCino by 16.6% during the 1st quarter. Millennium Management LLC now owns 303,853 shares of the company's stock valued at $8,347,000 after buying an additional 43,247 shares in the last quarter. Woodline Partners LP lifted its stake in nCino by 105.3% in the 1st quarter. Woodline Partners LP now owns 13,227 shares of the company's stock worth $363,000 after purchasing an additional 6,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in nCino by 16.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company's stock worth $7,731,000 after purchasing an additional 39,345 shares in the last quarter. Prudential Financial Inc. purchased a new stake in nCino in the 2nd quarter worth approximately $208,000. Finally, Marshall Wace LLP bought a new position in shares of nCino during the 2nd quarter valued at $4,163,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their price target on shares of nCino from $36.00 to $24.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. JPMorgan Chase & Co. decreased their price objective on shares of nCino from $30.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, February 18th. Stephens reduced their target price on shares of nCino from $34.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday, April 1st. Piper Sandler upgraded nCino from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $30.00 to $22.00 in a research report on Wednesday, April 1st. Finally, Wall Street Zen raised shares of nCino from a "hold" rating to a "buy" rating in a research note on Saturday, April 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, nCino has a consensus rating of "Moderate Buy" and a consensus price target of $26.07.

Insider Buying and Selling at nCino

In other nCino news, insider April Rieger sold 9,693 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $174,667.86. Following the transaction, the insider directly owned 383,601 shares of the company's stock, valued at $6,912,490.02. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 shares were 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. The trade was a 6.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 164,918 shares of company stock valued at $2,900,939. Insiders own 5.70% of the company's stock.

nCino Stock Performance

NASDAQ:NCNO opened at $17.75 on Monday. 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 0.25, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $1.93 billion, a P/E ratio of 355.00 and a beta of 0.72. The firm has a 50-day simple moving average of $16.60 and a 200-day simple moving average of $21.13.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.21 by $0.16. nCino had a net margin of 0.87% and a return on equity of 4.75%. The business had revenue of $149.67 million during the quarter, compared to analyst estimates of $147.41 million. During the same quarter in the previous year, the business posted $0.12 EPS. The company's quarterly revenue was up 5.9% compared to the same quarter last year. Equities analysts anticipate that nCino Inc. will post 0.52 EPS for the current fiscal year.

nCino Company 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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