Man Group plc Makes New $6.96 Million Investment in nCino Inc. $NCNO

Man Group plc bought a new stake in shares of nCino Inc. (NASDAQ:NCNO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 425,801 shares of the company’s stock, valued at approximately $6,962,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC increased its position in nCino by 16.6% in the first quarter. Millennium Management LLC now owns 303,853 shares of the company’s stock worth $8,347,000 after buying an additional 43,247 shares in the last quarter. Woodline Partners LP lifted its position in shares of nCino by 105.3% during the 1st quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock valued at $363,000 after buying an additional 6,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of nCino by 16.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock valued at $7,731,000 after acquiring an additional 39,345 shares during the period. Prudential Financial Inc. bought a new position in shares of nCino during the 2nd quarter valued at approximately $208,000. Finally, Marshall Wace LLP purchased a new stake in nCino in the 2nd quarter worth approximately $4,163,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on NCNO shares. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. BTIG Research reaffirmed a “neutral” rating on shares of nCino in a report on Wednesday. The Goldman Sachs Group cut their price target on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Keefe, Bruyette & Woods raised their price target on nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Zacks Research downgraded nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.38.

Insider Buying and Selling

In other nCino news, SVP Jeanette Sellers sold 1,536 shares of nCino stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total transaction of $29,998.08. Following the completion of the transaction, the senior vice president owned 48,453 shares in the company, valued at approximately $946,287.09. This trade represents a 3.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider April Rieger sold 7,852 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $150,915.44. Following the completion of the transaction, the insider directly owned 375,749 shares of the company’s stock, valued at $7,221,895.78. The trade was a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 83,350 shares of company stock valued at $1,568,144 in the last 90 days. 1.90% of the stock is currently owned by insiders.

nCino Trading Down 1.4%

Shares of NASDAQ NCNO opened at $22.99 on Friday. The business has a fifty day moving average price of $18.35 and a 200 day moving average price of $16.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.89. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $32.53. The stock has a market capitalization of $2.43 billion, a P/E ratio of 76.63 and a beta of 0.66.

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.