Opal Capital LLC acquired a new stake in shares of nCino Inc. (NASDAQ:NCNO – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 40,000 shares of the company’s stock, valued at approximately $1,026,000.
A number of other hedge funds also recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new stake in nCino during the fourth quarter valued at about $2,949,000. Wolf Hill Capital Management LP purchased a new stake in nCino during the fourth quarter valued at about $17,208,000. Owls Nest Partners IA LLC lifted its stake in nCino by 18.9% during the fourth quarter. Owls Nest Partners IA LLC now owns 1,585,623 shares of the company’s stock valued at $40,655,000 after buying an additional 252,584 shares in the last quarter. PEAK6 LLC purchased a new stake in nCino during the fourth quarter valued at about $1,597,000. Finally, Kennedy Capital Management LLC lifted its stake in nCino by 9.7% during the fourth quarter. Kennedy Capital Management LLC now owns 562,570 shares of the company’s stock valued at $14,424,000 after buying an additional 49,685 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at nCino
In related news, CEO Sean Desmond sold 22,073 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $397,755.46. Following the transaction, the chief executive officer owned 1,271,016 shares of the company’s stock, valued at approximately $22,903,708.32. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 14,650 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $263,993.00. Following the transaction, the chief financial officer directly owned 702,293 shares in the company, valued at approximately $12,655,319.86. The trade was a 2.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 172,982 shares of company stock worth $3,032,059 in the last ninety days. Insiders own 1.90% of the company’s stock.
nCino Price Performance
nCino (NASDAQ:NCNO – Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.16. The firm had revenue of $149.67 million for the quarter, compared to analyst estimates of $147.41 million. nCino had a net margin of 2.17% and a return on equity of 6.85%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 earnings per share. As a group, research analysts expect that nCino Inc. will post 0.68 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have commented on NCNO shares. Piper Sandler raised shares of nCino from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $30.00 to $22.00 in a research note on Wednesday, April 1st. Morgan Stanley reduced their price target on shares of nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, March 30th. Truist Financial reduced their price target on shares of nCino from $27.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Barclays increased their price target on shares of nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Finally, Stephens reduced their price target on shares of nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.21.
Check Out Our Latest Research Report on nCino
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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