Sepio Capital LP Acquires 170,912 Shares of nCino Inc. $NCNO

Sepio Capital LP lifted its holdings in shares of nCino Inc. (NASDAQ:NCNO) by 942.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,047 shares of the company’s stock after purchasing an additional 170,912 shares during the period. Sepio Capital LP’s holdings in nCino were worth $3,427,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of nCino during the 2nd quarter worth approximately $147,492,000. Senvest Management LLC grew its holdings in nCino by 30.2% during the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock valued at $79,521,000 after buying an additional 1,230,192 shares during the last quarter. Bank of America Corp DE acquired a new stake in nCino during the 2nd quarter valued at $84,319,000. American Capital Management Inc. acquired a new stake in nCino during the 2nd quarter valued at $83,508,000. Finally, HMI Capital Management L.P. acquired a new stake in nCino during the 2nd quarter valued at $81,598,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Gregory Orenstein sold 11,780 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total transaction of $226,411.60. Following the sale, the chief financial officer owned 690,513 shares in the company, valued at $13,271,659.86. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider April Rieger sold 7,852 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $150,915.44. Following the sale, the insider owned 375,749 shares in the company, valued at $7,221,895.78. This trade represents a 2.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 134,130 shares of company stock worth $2,662,794 in the last three months. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NCNO has been the subject of several recent research reports. Citigroup reissued a “market outperform” rating on shares of nCino in a research report on Wednesday, August 26th. Zacks Research downgraded nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Piper Sandler started coverage on nCino in a research note on Monday, August 24th. They set an “overweight” rating and a $25.00 price objective on the stock. Morgan Stanley increased their price objective on nCino from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, August 26th. Finally, Truist Financial lifted their price objective on nCino from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.42.

nCino Stock Up 6.1%

Shares of NASDAQ NCNO opened at $23.34 on Friday. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $27.50. The firm’s 50 day moving average price is $20.82 and its 200 day moving average price is $18.30. The firm has a market cap of $2.47 billion, a P/E ratio of 77.80 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85.

nCino Company Profile

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.

The company’s products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.