Rockefeller Capital Management L.P. Acquires 153,162 Shares of nCino Inc. $NCNO

Rockefeller Capital Management L.P. boosted its holdings in shares of nCino Inc. (NASDAQ:NCNO) by 66.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 383,812 shares of the company’s stock after buying an additional 153,162 shares during the period. Rockefeller Capital Management L.P.’s holdings in nCino were worth $9,841,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. FNY Investment Advisers LLC increased its holdings in shares of nCino by 15.9% during the 4th quarter. FNY Investment Advisers LLC now owns 3,228 shares of the company’s stock valued at $82,000 after acquiring an additional 444 shares during the last quarter. US Bancorp DE raised its stake in shares of nCino by 1.6% in the 3rd quarter. US Bancorp DE now owns 32,042 shares of the company’s stock valued at $869,000 after acquiring an additional 501 shares in the last quarter. Lecap Asset Management Ltd. lifted its holdings in nCino by 2.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 31,163 shares of the company’s stock worth $799,000 after purchasing an additional 691 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in nCino by 76.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in nCino by 1.2% during the third quarter. Captrust Financial Advisors now owns 62,747 shares of the company’s stock worth $1,701,000 after purchasing an additional 743 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on NCNO shares. Morgan Stanley lowered their price target on nCino from $36.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, March 30th. Citizens Jmp reduced their price objective on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a research note on Monday, May 18th. Truist Financial decreased their price objective on shares of nCino from $27.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of nCino in a research note on Wednesday. Finally, Zacks Research upgraded shares of nCino from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Two investment analysts have 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.29.

Insider Transactions at nCino

In related news, SVP Jeanette Sellers sold 3,695 shares of nCino 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 sale, the senior vice president directly owned 50,876 shares of the company’s stock, valued at $917,803.04. This trade represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gregory Orenstein sold 14,650 shares of the company’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 value of $263,993.00. Following the completion of the transaction, the chief financial officer directly owned 702,293 shares of the company’s stock, valued at approximately $12,655,319.86. This trade represents 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. Over the last quarter, insiders sold 172,982 shares of company stock worth $3,032,059. 1.90% of the stock is currently owned by insiders.

nCino Stock Performance

NCNO opened at $14.35 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $16.16 and its two-hundred day moving average price is $18.69. The firm has a market capitalization of $1.57 billion, a P/E ratio of 119.58 and a beta of 0.69. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. nCino had a return on equity of 6.85% and a net margin of 2.17%.The company had revenue of $149.67 million during the quarter, compared to analyst estimates of $147.41 million. During the same period in the previous year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities analysts forecast that nCino Inc. will post 0.68 earnings per share for the current year.

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.