Man Group plc acquired a new position in nCino Inc. (NASDAQ:NCNO – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 425,801 shares of the company’s stock, valued at approximately $6,962,000. Man Group plc owned approximately 0.39% of nCino as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CWM LLC increased its holdings in shares of nCino by 255.8% in the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after purchasing an additional 821 shares in the last quarter. Optiver Holding B.V. bought a new position in nCino in the 1st quarter valued at $32,000. Los Angeles Capital Management LLC acquired a new stake in shares of nCino in the 4th quarter valued at $38,000. Versant Capital Management Inc raised its position in shares of nCino by 664.9% during the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after acquiring an additional 2,101 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of nCino by 76.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after acquiring an additional 722 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, SVP Jeanette Sellers sold 1,536 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total value of $29,998.08. Following the completion of the sale, the senior vice president owned 48,453 shares of the company’s stock, valued at approximately $946,287.09. The trade was a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 4,677 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $89,891.94. Following the transaction, the director directly owned 1,116,707 shares of the company’s stock, valued at $21,463,108.54. The trade was a 0.42% 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 have sold 83,350 shares of company stock worth $1,568,144 in the last ninety days. 1.90% of the stock is currently owned by insiders.
nCino Stock Down 1.4%
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on NCNO. The Goldman Sachs Group decreased their target price on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Citizens Jmp boosted their target price on nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Wednesday. Citigroup reissued a “market outperform” rating on shares of nCino in a report on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of nCino in a research note on Tuesday. Finally, Barclays upped their price objective on shares of nCino from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.38.
Get Our Latest Analysis on nCino
About nCino
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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