SG Americas Securities LLC Makes New Investment in nCino, Inc. (NASDAQ:NCNO)

SG Americas Securities LLC acquired a new stake in shares of nCino, Inc. (NASDAQ:NCNO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,939 shares of the company’s stock, valued at approximately $219,000.

A number of other hedge funds have also made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of nCino by 8.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock valued at $244,766,000 after acquiring an additional 635,064 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of nCino by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock valued at $266,247,000 after acquiring an additional 148,390 shares during the last quarter. Long Path Partners LP increased its holdings in shares of nCino by 151.1% during the 2nd quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock valued at $81,460,000 after acquiring an additional 1,558,529 shares during the last quarter. Meritage Group LP increased its holdings in shares of nCino by 2.3% during the 1st quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock valued at $65,451,000 after acquiring an additional 39,828 shares during the last quarter. Finally, Capital International Investors bought a new stake in nCino during the 1st quarter valued at approximately $60,703,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

NCNO has been the subject of several recent analyst reports. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Tuesday, September 3rd. Macquarie restated an “outperform” rating and set a $40.00 target price on shares of nCino in a research note on Wednesday, August 28th. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and increased their target price for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. William Blair restated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Finally, Stephens reiterated an “equal weight” rating and issued a $35.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.82.

Insider Transactions at nCino

In other news, Director Jeff Horing sold 1,833,975 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the transaction, the director now directly owns 12,513,467 shares in the company, valued at $458,243,161.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other nCino news, Director Jeff Horing sold 1,833,975 shares of nCino stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the transaction, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the transaction, the chief financial officer now owns 276,892 shares in the company, valued at approximately $9,705,064.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,014,080 shares of company stock worth $176,869,658 in the last three months. Insiders own 28.40% of the company’s stock.

nCino Stock Down 0.7 %

NASDAQ NCNO opened at $36.95 on Wednesday. The stock has a fifty day moving average of $31.98 and a 200-day moving average of $31.56. The stock has a market capitalization of $4.25 billion, a P/E ratio of -119.19, a price-to-earnings-growth ratio of 26.59 and a beta of 0.59. nCino, Inc. has a 52 week low of $27.13 and a 52 week high of $37.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The business had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. During the same period last year, the company earned ($0.02) EPS. The firm’s revenue was up 13.0% on a year-over-year basis. On average, equities research analysts forecast that nCino, Inc. will post 0.05 EPS for the current year.

nCino Company Profile

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.