nCino Inc. $NCNO Position Increased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. grew its position in nCino Inc. (NASDAQ:NCNO) by 66.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,812 shares of the company’s stock after buying an additional 153,162 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.33% of nCino worth $9,841,000 at the end of the most recent quarter.

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

Insider Activity at nCino

In related news, insider April Rieger sold 9,693 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $174,667.86. Following the completion of the sale, the insider owned 383,601 shares of the company’s stock, valued at approximately $6,912,490.02. The trade was a 2.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 stock in a transaction that occurred on Monday, May 4th. The stock was 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 owned 702,293 shares in the company, valued at $12,655,319.86. This represents a 2.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 172,982 shares of company stock worth $3,032,059. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NCNO shares. Weiss Ratings upgraded nCino from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Piper Sandler raised nCino from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $30.00 to $22.00 in a research note on Wednesday, April 1st. Barclays raised their price objective on nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Truist Financial dropped their target price on nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Finally, Citigroup reissued a “market outperform” rating on shares of nCino in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.29.

nCino Trading Down 2.4%

NASDAQ NCNO opened at $14.35 on Friday. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.57 billion, a PE ratio of 119.58 and a beta of 0.69. The firm’s fifty day simple moving average is $16.16 and its 200-day simple moving average is $18.69.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.16. nCino had a return on equity of 6.85% and a net margin of 2.17%.The business had revenue of $149.67 million during the quarter, compared to analyst estimates of $147.41 million. During the same period last year, the company earned $0.12 earnings per share. nCino’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that nCino Inc. will post 0.68 earnings per share for the current fiscal year.

nCino Company 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.