Gagnon Securities LLC Has $1.88 Million Position in nCino Inc. $NCNO

Gagnon Securities LLC grew its position in nCino Inc. (NASDAQ:NCNO) by 92.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,494 shares of the company’s stock after buying an additional 35,236 shares during the quarter. Gagnon Securities LLC owned 0.06% of nCino worth $1,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NCNO. CWM LLC increased its position in nCino by 255.8% during the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after purchasing an additional 821 shares in the last quarter. AlphaQuest LLC increased its position in nCino by 5,022.2% during the 3rd quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock worth $37,000 after purchasing an additional 1,356 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in nCino during the 4th quarter worth approximately $38,000. Farther Finance Advisors LLC increased its position in nCino by 76.2% during 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 in the last quarter. Finally, Quarry LP increased its position in nCino by 138.2% during the 3rd quarter. Quarry LP now owns 1,701 shares of the company’s stock worth $46,000 after purchasing an additional 987 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NCNO has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their price objective on shares of nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Truist Financial lowered their price objective on shares of nCino from $27.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Barclays upped their price objective on shares of nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Finally, Robert W. Baird dropped their price target on shares of nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.21.

Insider Buying and Selling

In other news, Director Pierre Naude sold 35,650 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $642,413.00. Following the sale, the director directly owned 1,108,473 shares of the company’s stock, valued at approximately $19,974,683.46. This represents a 3.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 14,650 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $263,993.00. Following the completion of the sale, the chief financial officer directly owned 702,293 shares in the company, valued at approximately $12,655,319.86. This represents a 2.04% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 172,982 shares of company stock worth $3,032,059. Corporate insiders own 1.90% of the company’s stock.

nCino Stock Performance

Shares of nCino stock opened at $15.32 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. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 127.67 and a beta of 0.69. The company’s fifty day moving average is $16.64 and its 200 day moving average is $19.34.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. nCino had a net margin of 2.17% and a return on equity of 6.85%. The company had revenue of $149.67 million for the quarter, compared to analyst estimates of $147.41 million. During the same period in the prior year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Sell-side analysts forecast that nCino Inc. will post 0.68 EPS 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.