nCino Inc. $NCNO Shares Bought by State of Wyoming

State of Wyoming lifted its position in nCino Inc. (NASDAQ:NCNO) by 62.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 142,752 shares of the company’s stock after buying an additional 55,102 shares during the period. nCino makes up 0.3% of State of Wyoming’s holdings, making the stock its 25th largest position. State of Wyoming owned about 0.13% of nCino worth $2,138,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NCNO. FNY Investment Advisers LLC boosted its stake in nCino by 15.9% during the fourth quarter. FNY Investment Advisers LLC now owns 3,228 shares of the company’s stock valued at $82,000 after buying an additional 444 shares in the last quarter. Lecap Asset Management Ltd. raised its position in nCino by 2.3% in the fourth quarter. Lecap Asset Management Ltd. now owns 31,163 shares of the company’s stock worth $799,000 after acquiring an additional 691 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in nCino by 76.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock valued at $43,000 after acquiring an additional 722 shares during the last quarter. Captrust Financial Advisors lifted its holdings in nCino by 1.2% in the 3rd quarter. Captrust Financial Advisors now owns 62,747 shares of the company’s stock valued at $1,701,000 after acquiring an additional 743 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in nCino by 14.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,958 shares of the company’s stock valued at $153,000 after acquiring an additional 765 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Price Performance

NASDAQ NCNO opened at $16.60 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 138.33 and a beta of 0.68. The company has a 50 day simple moving average of $16.06 and a 200-day simple moving average of $17.58. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $33.92.

Insider Transactions at nCino

In other nCino news, SVP Jeanette Sellers sold 3,695 shares of nCino stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $18.04, for a total transaction of $66,657.80. Following the completion of the sale, the senior vice president owned 50,876 shares of the company’s stock, valued at $917,803.04. This trade represents a 6.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider April Rieger sold 9,693 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $174,667.86. Following the transaction, the insider owned 383,601 shares in the company, valued at approximately $6,912,490.02. This represents a 2.46% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 119,964 shares of company stock worth $2,143,529. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NCNO shares. Weiss Ratings raised shares of nCino from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Truist Financial cut their target price on shares of nCino from $27.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Barclays increased 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. Stephens decreased 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. Finally, Citigroup restated a “market outperform” rating on shares of nCino in a research report on Monday, June 22nd. Two 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

About nCino

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.