Hsbc Holdings PLC Invests $3.98 Million in nCino Inc. $NCNO

Hsbc Holdings PLC purchased a new stake in nCino Inc. (NASDAQ:NCNO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 154,173 shares of the company’s stock, valued at approximately $3,982,000. Hsbc Holdings PLC owned about 0.13% of nCino as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NCNO. Vanguard Group Inc. raised its position in nCino by 1.7% during the third quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company’s stock valued at $323,279,000 after acquiring an additional 201,499 shares in the last quarter. Cramer Rosenthal Mcglynn LLC boosted its position in nCino by 19.8% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 375,310 shares of the company’s stock worth $10,175,000 after purchasing an additional 62,142 shares in the last quarter. Algebris UK Ltd. boosted its position in nCino by 266.2% in the 4th quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company’s stock worth $26,493,000 after purchasing an additional 750,744 shares in the last quarter. Shannon River Fund Management LLC grew its stake in shares of nCino by 27.4% during the 3rd quarter. Shannon River Fund Management LLC now owns 1,578,896 shares of the company’s stock worth $42,804,000 after purchasing an additional 339,863 shares during the period. Finally, Tremblant Capital Group grew its stake in shares of nCino by 40.3% during the 3rd quarter. Tremblant Capital Group now owns 661,277 shares of the company’s stock worth $17,927,000 after purchasing an additional 189,815 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Trading Up 8.9%

Shares of nCino stock opened at $15.63 on Friday. The firm has a market capitalization of $1.71 billion, a PE ratio of 130.25 and a beta of 0.69. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92. The firm’s 50-day moving average price is $16.11 and its 200 day moving average price is $18.67. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.37 EPS for the quarter, beating 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 firm had revenue of $149.67 million during the quarter, compared to the consensus estimate of $147.41 million. During the same period in the prior year, the company earned $0.12 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts predict that nCino Inc. will post 0.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NCNO shares. Morgan Stanley decreased their target price on shares of nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Stephens dropped their price target on shares of nCino from $34.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Piper Sandler upgraded shares of nCino from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $30.00 to $22.00 in a research report on Wednesday, April 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of nCino in a research note on Thursday, May 28th. Two equities research 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

Insiders Place Their Bets

In other nCino news, SVP Jeanette Sellers sold 3,695 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was 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 of the company’s stock, valued at approximately $917,803.04. The trade was a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pierre Naude sold 35,650 shares of nCino stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $642,413.00. Following the transaction, the director owned 1,108,473 shares in the company, valued at approximately $19,974,683.46. This represents a 3.12% 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 ninety days, insiders sold 172,982 shares of company stock valued at $3,032,059. Insiders own 1.90% of the company’s stock.

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.