Peregrine Capital Management LLC Has $8.80 Million Holdings in nCino Inc. $NCNO

Peregrine Capital Management LLC boosted its position in shares of nCino Inc. (NASDAQ:NCNO) by 16.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 343,051 shares of the company’s stock after purchasing an additional 48,908 shares during the period. Peregrine Capital Management LLC’s holdings in nCino were worth $8,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NCNO. Bank of America Corp DE lifted its stake in nCino by 475.1% in the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock worth $68,146,000 after acquiring an additional 2,076,579 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of nCino in the third quarter worth approximately $36,962,000. Marshall Wace LLP boosted its holdings in shares of nCino by 687.3% during the third quarter. Marshall Wace LLP now owns 1,171,749 shares of the company’s stock worth $31,766,000 after purchasing an additional 1,022,911 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of nCino during the second quarter worth approximately $26,238,000. Finally, Azora Capital LP grew its position in nCino by 102.6% during the third quarter. Azora Capital LP now owns 1,144,472 shares of the company’s stock valued at $31,027,000 after purchasing an additional 579,680 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling

In other news, insider April Rieger sold 8,078 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total value of $150,897.04. Following the completion of the sale, the insider directly owned 221,696 shares in the company, valued at approximately $4,141,281.28. The trade was a 3.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pierre Naude sold 24,273 shares of nCino stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total transaction of $453,419.64. Following the completion of the transaction, the director owned 1,166,823 shares in the company, valued at $21,796,253.64. This trade represents a 2.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 123,554 shares of company stock valued at $2,195,469. 5.70% of the stock is owned by corporate insiders.

nCino Stock Down 5.8%

Shares of NCNO traded down $1.05 during trading hours on Thursday, hitting $17.00. 205,496 shares of the company were exchanged, compared to its average volume of 2,589,036. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $1.95 billion, a PE ratio of 341.34, a PEG ratio of 2.74 and a beta of 0.61. The firm’s 50 day moving average is $16.29 and its 200-day moving average is $21.63. nCino Inc. has a 52 week low of $13.80 and a 52 week high of $33.92.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. nCino had a return on equity of 4.75% and a net margin of 0.87%.The business had revenue of $149.67 million for the quarter, compared to the consensus estimate of $147.41 million. During the same period last year, the business earned $0.12 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts forecast that nCino Inc. will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on NCNO. Barclays lifted their target price on shares of nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Truist Financial lowered their target price on nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. JPMorgan Chase & Co. cut their price target on nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Piper Sandler raised nCino from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $30.00 to $22.00 in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group dropped their price objective on nCino from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.07.

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.