Sepio Capital LP Reduces Stock Position in nCino Inc. $NCNO

Sepio Capital LP lowered its position in nCino Inc. (NASDAQ:NCNO) by 64.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,135 shares of the company’s stock after selling 32,425 shares during the period. Sepio Capital LP’s holdings in nCino were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Advisors Asset Management Inc. boosted its holdings in shares of nCino by 68.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock valued at $32,000 after acquiring an additional 458 shares during the last quarter. Hilltop National Bank acquired a new stake in nCino during the 2nd quarter worth about $42,000. Covestor Ltd raised its stake in shares of nCino by 27.6% during the 1st quarter. Covestor Ltd now owns 2,388 shares of the company’s stock valued at $66,000 after buying an additional 517 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of nCino in the 1st quarter valued at about $102,000. Finally, Parallel Advisors LLC grew its holdings in nCino by 23.8% during the second quarter. Parallel Advisors LLC now owns 4,248 shares of the company’s stock worth $119,000 after acquiring an additional 816 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on NCNO. Piper Sandler upped their price objective on nCino from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. William Blair upgraded shares of nCino from a “market perform” rating to an “outperform” rating in a research report on Friday, October 10th. Zacks Research upgraded shares of nCino from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Robert W. Baird increased their target price on shares of nCino from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. Finally, Bank of America lifted their price target on nCino from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, nCino has an average rating of “Moderate Buy” and an average target price of $33.94.

Insider Activity at nCino

In other news, CEO Sean Desmond sold 10,006 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $25.81, for a total value of $258,254.86. Following the transaction, the chief executive officer owned 618,597 shares in the company, valued at $15,965,988.57. This trade represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Gregory Orenstein sold 4,353 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $25.81, for a total value of $112,350.93. Following the completion of the transaction, the chief financial officer owned 461,746 shares in the company, valued at $11,917,664.26. The trade was a 0.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,940,562 shares of company stock worth $118,143,440 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

nCino Stock Down 0.7%

Shares of NASDAQ NCNO opened at $24.52 on Tuesday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -84.55, a price-to-earnings-growth ratio of 15.56 and a beta of 0.53. The company’s 50-day simple moving average is $25.74 and its 200-day simple moving average is $27.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.24. nCino Inc. has a 52-week low of $18.75 and a 52-week high of $42.88.

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.