Bullseye Asset Management LLC Grows Holdings in nCino Inc. $NCNO

Bullseye Asset Management LLC raised its stake in nCino Inc. (NASDAQ:NCNO) by 21.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,147 shares of the company’s stock after buying an additional 30,019 shares during the period. nCino comprises about 2.4% of Bullseye Asset Management LLC’s investment portfolio, making the stock its 14th biggest position. Bullseye Asset Management LLC’s holdings in nCino were worth $4,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in nCino by 241.1% in the first quarter. Victory Capital Management Inc. now owns 41,349 shares of the company’s stock valued at $1,136,000 after acquiring an additional 29,225 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of nCino by 43.6% in the 1st quarter. TD Asset Management Inc now owns 69,480 shares of the company’s stock worth $1,909,000 after purchasing an additional 21,088 shares in the last quarter. Algebris UK Ltd bought a new position in shares of nCino during the 1st quarter valued at about $6,689,000. Malaga Cove Capital LLC increased its position in shares of nCino by 30.1% during the 1st quarter. Malaga Cove Capital LLC now owns 36,201 shares of the company’s stock valued at $994,000 after purchasing an additional 8,384 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of nCino by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 11,666,955 shares of the company’s stock valued at $320,491,000 after buying an additional 836,182 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

nCino Stock Performance

Shares of NASDAQ:NCNO opened at $24.10 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $26.30 and a 200-day moving average price of $27.47. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -83.10, a price-to-earnings-growth ratio of 15.36 and a beta of 0.62. nCino Inc. has a 12 month low of $18.75 and a 12 month high of $42.88.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, August 26th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. The company had revenue of $148.82 million for the quarter, compared to the consensus estimate of $143.17 million. nCino had a positive return on equity of 1.18% and a negative net margin of 5.86%.nCino’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 EPS. As a group, equities analysts anticipate that nCino Inc. will post 0.12 EPS for the current year.

Insider Transactions at nCino

In other news, Director Pierre Naude sold 4,881 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $25.81, for a total transaction of $125,978.61. Following the transaction, the director directly owned 1,187,580 shares of the company’s stock, valued at approximately $30,651,439.80. The trade was a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sean Desmond sold 10,006 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $25.81, for a total transaction of $258,254.86. Following the transaction, the chief executive officer directly owned 618,597 shares in the company, valued at approximately $15,965,988.57. The trade was a 1.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 4,483,731 shares of company stock worth $135,709,761. Corporate insiders own 5.70% of the company’s stock.

Analyst Upgrades and Downgrades

NCNO has been the subject of several research reports. Truist Financial upped their target price on nCino from $27.00 to $32.00 and gave the stock a “hold” rating in a research note on Wednesday, August 27th. UBS Group reiterated a “neutral” rating on shares of nCino in a research report on Wednesday, August 27th. William Blair raised nCino from a “market perform” rating to an “outperform” rating in a research note on Friday, October 10th. Bank of America boosted their target price on nCino from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 27th. Finally, Piper Sandler raised their price target on nCino from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.94.

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.