nCino Inc. $NCNO Shares Purchased by Tremblant Capital Group

Tremblant Capital Group grew its stake in shares of nCino Inc. (NASDAQ:NCNO) by 40.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 661,277 shares of the company’s stock after buying an additional 189,815 shares during the quarter. nCino comprises 1.9% of Tremblant Capital Group’s holdings, making the stock its 25th biggest position. Tremblant Capital Group owned about 0.57% of nCino worth $17,927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its stake in shares of nCino by 186.4% during the third quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock valued at $26,000 after acquiring an additional 617 shares during the period. Advisors Asset Management Inc. lifted its position in nCino by 68.5% in the second quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock worth $32,000 after purchasing an additional 458 shares during the period. AlphaQuest LLC boosted its stake in nCino by 5,022.2% during the 3rd quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock valued at $37,000 after purchasing an additional 1,356 shares in the last quarter. Fifth Third Bancorp boosted its stake in nCino by 105.3% during the 3rd quarter. Fifth Third Bancorp now owns 1,915 shares of the company’s stock valued at $52,000 after purchasing an additional 982 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of nCino by 1,536.6% during the 3rd quarter. Bessemer Group Inc. now owns 3,355 shares of the company’s stock valued at $91,000 after purchasing an additional 3,150 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Stock Performance

NCNO opened at $15.07 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.73 billion, a PE ratio of -83.72, a P/E/G ratio of 3.00 and a beta of 0.59. The business has a fifty day simple moving average of $19.65 and a 200-day simple moving average of $24.24. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $33.92.

nCino announced that its board has initiated a share buyback plan on Monday, December 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NCNO has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on nCino from $34.50 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Truist Financial lowered their target price on nCino from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. Piper Sandler dropped their price target on shares of nCino from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, December 4th. Zacks Research downgraded shares of nCino from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, BTIG Research assumed coverage on shares of nCino in a research report on Tuesday, December 16th. They set a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.33.

Insider Buying and Selling at nCino

In other nCino news, Director Pierre Naude sold 24,273 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total transaction of $453,419.64. Following the sale, the director owned 1,166,823 shares in the company, valued at approximately $21,796,253.64. The trade was a 2.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jeanette Sellers sold 2,182 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $18.26, for a total transaction of $39,843.32. Following the sale, the senior vice president directly owned 43,219 shares of the company’s stock, valued at $789,178.94. This represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 71,310 shares of company stock valued at $1,382,650 over the last 90 days. 5.70% of the stock is owned by insiders.

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.