Edgestream Partners L.P. Invests $3.38 Million in nCino Inc. $NCNO

Edgestream Partners L.P. purchased a new stake in shares of nCino Inc. (NASDAQ:NCNO) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 225,462 shares of the company’s stock, valued at approximately $3,377,000.

Several other large investors have also recently bought and sold shares of NCNO. Algebris UK Ltd. boosted its position in nCino by 266.2% during the 4th quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company’s stock worth $26,493,000 after acquiring an additional 750,744 shares during the period. Hawk Ridge Capital Management LP increased its holdings in shares of nCino by 625.4% in the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after purchasing an additional 3,864,010 shares during the period. Hsbc Holdings PLC acquired a new position in shares of nCino in the 4th quarter valued at about $3,982,000. Royce & Associates LP purchased a new stake in shares of nCino in the fourth quarter worth approximately $3,681,000. Finally, American Capital Management Inc. lifted its position in shares of nCino by 17.1% in the first quarter. American Capital Management Inc. now owns 2,375,396 shares of the company’s stock worth $35,583,000 after purchasing an additional 347,587 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other nCino news, CEO Sean Desmond sold 8,064 shares of the firm’s stock in a transaction dated 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 directly owned 1,262,492 shares in the company, valued at $22,055,735.24. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $66,657.80. Following the completion of the sale, the senior vice president directly owned 50,876 shares of the company’s stock, valued at $917,803.04. This represents a 6.77% 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. Insiders have sold 119,964 shares of company stock worth $2,143,529 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

nCino Price Performance

NASDAQ NCNO opened at $18.46 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 has a market capitalization of $2.02 billion, a PE ratio of 153.83 and a beta of 0.68. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92. The company has a 50 day moving average price of $16.41 and a two-hundred day moving average price of $17.28.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, June 24th. Citizens Jmp cut their target price on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a research report on Monday, May 18th. The Goldman Sachs Group decreased their target price on shares of nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Citigroup reaffirmed a “market outperform” rating on shares of nCino in a research note on Monday, June 22nd. Finally, Wall Street Zen upgraded nCino from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, nCino has a consensus rating of “Moderate Buy” and an average target price of $25.29.

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.