Y Intercept Hong Kong Ltd Acquires Shares of 61,093 nCino Inc. $NCNO

Y Intercept Hong Kong Ltd bought a new position in nCino Inc. (NASDAQ:NCNO) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 61,093 shares of the company’s stock, valued at approximately $915,000.

Several other institutional investors have also made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of nCino by 475.1% during the third quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock valued at $68,146,000 after acquiring an additional 2,076,579 shares during the period. Millennium Management LLC boosted its stake in nCino by 262.8% in the 4th quarter. Millennium Management LLC now owns 2,341,532 shares of the company’s stock worth $60,037,000 after purchasing an additional 1,696,051 shares during the period. Senvest Management LLC grew its position in nCino by 68.6% during the 4th quarter. Senvest Management LLC now owns 4,078,276 shares of the company’s stock worth $104,567,000 after purchasing an additional 1,658,868 shares in the last quarter. Wellington Management Group LLP purchased a new position in nCino during the 3rd quarter worth approximately $36,962,000. Finally, Ophir Asset Management Pty Ltd acquired a new stake in nCino during the 4th quarter valued at $33,985,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Jeanette Sellers sold 3,695 shares of the stock in a transaction on Tuesday, May 5th. The shares were 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 $917,803.04. This represents a 6.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sean Desmond sold 8,064 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $17.47, for a total transaction of $140,878.08. Following the transaction, the chief executive officer owned 1,262,492 shares in the company, valued at approximately $22,055,735.24. This trade represents a 0.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 121,837 shares of company stock valued at $2,176,400. 1.90% of the stock is owned by company insiders.

nCino Stock Performance

NASDAQ:NCNO opened at $16.99 on Monday. The company has a market capitalization of $1.86 billion, a P/E ratio of 141.58 and a beta of 0.68. The stock’s 50 day moving average price is $15.98 and its 200 day moving average price is $18.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. nCino Inc. has a 52 week low of $13.80 and a 52 week high of $33.92.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NCNO. Citigroup restated a “market outperform” rating on shares of nCino in a report on Monday, June 22nd. JPMorgan Chase & Co. upped their price target on nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. Weiss Ratings raised nCino from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. The Goldman Sachs Group decreased their price objective on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, Robert W. Baird lowered their target price on nCino from $34.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Two 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

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.