FNY Investment Advisers LLC Makes New $82,000 Investment in nCino, Inc. (NASDAQ:NCNO)

FNY Investment Advisers LLC acquired a new stake in nCino, Inc. (NASDAQ:NCNO) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,000 shares of the company’s stock, valued at approximately $82,000.

Several other large investors have also modified their holdings of NCNO. Precision Wealth Strategies LLC raised its position in nCino by 10.5% in the 1st quarter. Precision Wealth Strategies LLC now owns 15,779 shares of the company’s stock valued at $433,000 after purchasing an additional 1,501 shares during the last quarter. Azzad Asset Management Inc. ADV increased its stake in nCino by 5.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 43,355 shares of the company’s stock valued at $1,191,000 after purchasing an additional 2,050 shares during the period. GAMMA Investing LLC raised its holdings in shares of nCino by 2,170.3% in the first quarter. GAMMA Investing LLC now owns 7,719 shares of the company’s stock valued at $212,000 after buying an additional 7,379 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of nCino by 5.4% during the fourth quarter. California State Teachers Retirement System now owns 85,835 shares of the company’s stock worth $2,882,000 after buying an additional 4,417 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of nCino during the fourth quarter worth about $227,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at nCino

In other nCino news, CEO Sean Desmond sold 7,880 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,376.80. Following the sale, the chief executive officer now owns 298,597 shares in the company, valued at approximately $6,228,733.42. This represents a 2.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider April Rieger sold 6,589 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.00, for a total value of $151,547.00. Following the transaction, the insider now directly owns 243,551 shares of the company’s stock, valued at $5,601,673. The trade was a 2.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 141,060 shares of company stock worth $3,101,115. 5.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on NCNO. The Goldman Sachs Group downgraded nCino from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $42.00 to $24.00 in a research note on Wednesday, April 2nd. Piper Sandler restated a “neutral” rating and set a $28.00 price target (up previously from $25.00) on shares of nCino in a research note on Thursday, May 29th. Stephens lifted their price objective on shares of nCino from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 21st. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price objective on shares of nCino in a research note on Thursday, May 29th. Finally, Truist Financial raised their target price on shares of nCino from $21.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, May 29th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, nCino has an average rating of “Hold” and a consensus target price of $31.00.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $26.90 on Tuesday. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -158.23, a price-to-earnings-growth ratio of 5.77 and a beta of 0.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50 day simple moving average is $24.87 and its 200-day simple moving average is $29.62. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The firm had revenue of $141.37 million for the quarter, compared to analysts’ expectations of $140.81 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts forecast that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its board has approved a share repurchase program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

nCino Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.