Hsbc Holdings PLC Acquires Shares of 154,173 nCino Inc. $NCNO

Hsbc Holdings PLC acquired a new stake in shares of nCino Inc. (NASDAQ:NCNO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 154,173 shares of the company’s stock, valued at approximately $3,982,000.

A number of other institutional investors also recently modified their holdings of NCNO. Rockefeller Capital Management L.P. lifted its holdings in shares of nCino by 66.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 383,812 shares of the company’s stock worth $9,841,000 after purchasing an additional 153,162 shares in the last quarter. Alpine Global Management LLC bought a new stake in nCino during the 4th quarter valued at $206,000. Invesco Ltd. increased its stake in nCino by 13.6% during the 4th quarter. Invesco Ltd. now owns 168,339 shares of the company’s stock valued at $4,316,000 after purchasing an additional 20,102 shares in the last quarter. XTX Topco Ltd raised its holdings in nCino by 68.1% during the fourth quarter. XTX Topco Ltd now owns 82,508 shares of the company’s stock worth $2,116,000 after buying an additional 33,418 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its holdings in nCino by 92.6% during the fourth quarter. Voloridge Investment Management LLC now owns 474,970 shares of the company’s stock worth $12,178,000 after buying an additional 228,301 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NCNO. Truist Financial dropped their price objective on shares of nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Citigroup restated a “market outperform” rating on shares of nCino in a report on Monday, June 22nd. The Goldman Sachs Group dropped their price target on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Piper Sandler upgraded nCino from a “neutral” rating to an “overweight” rating and cut their price target for the company from $30.00 to $22.00 in a research note on Wednesday, April 1st. Finally, Robert W. Baird decreased their price objective on nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.29.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $16.98 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.86 billion, a PE ratio of 141.50 and a beta of 0.68. The stock’s fifty day simple moving average is $15.99 and its two-hundred day simple moving average is $18.12. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92.

Insider Buying and Selling

In related news, Director Pierre Naude sold 35,650 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $642,413.00. Following the transaction, the director directly owned 1,108,473 shares of the company’s stock, valued at $19,974,683.46. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $18.04, for a total transaction of $66,657.80. Following the transaction, the senior vice president owned 50,876 shares in the company, valued at approximately $917,803.04. This trade represents 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. Insiders have sold a total of 121,837 shares of company stock valued at $2,176,400 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

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.