Opal Capital LLC Purchases Shares of 40,000 nCino Inc. $NCNO

Opal Capital LLC purchased a new stake in shares of nCino Inc. (NASDAQ:NCNO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 40,000 shares of the company’s stock, valued at approximately $1,026,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in nCino by 255.8% during the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after purchasing an additional 821 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in nCino during the fourth quarter valued at approximately $38,000. Farther Finance Advisors LLC grew its holdings in nCino by 76.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock valued at $43,000 after purchasing an additional 722 shares during the last quarter. Quarry LP grew its holdings in nCino by 138.2% during the third quarter. Quarry LP now owns 1,701 shares of the company’s stock valued at $46,000 after purchasing an additional 987 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in nCino by 105.3% during the third quarter. Fifth Third Bancorp now owns 1,915 shares of the company’s stock valued at $52,000 after purchasing an additional 982 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NCNO. Robert W. Baird lowered their price target on nCino from $34.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Keefe, Bruyette & Woods lowered their price objective on shares of nCino from $36.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Weiss Ratings upgraded shares of nCino from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Finally, Morgan Stanley lowered their price objective on shares of nCino from $36.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, March 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and an average price target of $25.21.

Insider Buying and Selling

In other nCino news, 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 transaction of $642,413.00. Following the completion of the transaction, the director directly owned 1,108,473 shares of the company’s stock, valued at approximately $19,974,683.46. This trade represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 nCino stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $263,993.00. Following the transaction, the chief financial officer directly owned 702,293 shares of the company’s stock, valued at approximately $12,655,319.86. The trade was a 2.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 172,982 shares of company stock valued at $3,032,059 in the last ninety days. Insiders own 1.90% of the company’s stock.

nCino Stock Up 0.8%

Shares of NCNO stock opened at $14.86 on Wednesday. The stock has a market cap of $1.63 billion, a P/E ratio of 123.83 and a beta of 0.69. nCino Inc. has a one year low of $13.80 and a one year high of $33.92. The stock has a fifty day moving average price of $16.55 and a 200 day moving average price of $19.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89.

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

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.