Xponance Inc. Takes $252,000 Position in nCino, Inc. (NASDAQ:NCNO)

Xponance Inc. acquired a new stake in nCino, Inc. (NASDAQ:NCNO) in the second quarter, HoldingsChannel reports. The institutional investor acquired 8,009 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of nCino by 8.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock worth $244,766,000 after purchasing an additional 635,064 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of nCino by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after purchasing an additional 148,390 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of nCino by 18.9% in the 4th quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock worth $75,777,000 after purchasing an additional 358,766 shares during the last quarter. Meritage Group LP grew its holdings in shares of nCino by 2.3% in the 1st quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock worth $65,451,000 after purchasing an additional 39,828 shares during the last quarter. Finally, Capital International Investors bought a new stake in shares of nCino in the 1st quarter worth about $60,703,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity at nCino

In other nCino news, Director Insight Holdings Group, Llc sold 1,981,514 shares of nCino stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $31.08, for a total transaction of $61,585,455.12. Following the transaction, the director now directly owns 1,545,347 shares in the company, valued at $48,029,384.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Insight Holdings Group, Llc sold 1,981,514 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $31.08, for a total value of $61,585,455.12. Following the completion of the transaction, the director now owns 1,545,347 shares in the company, valued at $48,029,384.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeff Horing sold 800,002 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $33.16, for a total transaction of $26,528,066.32. Following the sale, the director now owns 16,649,942 shares in the company, valued at $552,112,076.72. The disclosure for this sale can be found here. Insiders sold a total of 4,271,826 shares of company stock worth $137,563,353 in the last quarter. Corporate insiders own 28.40% of the company’s stock.

Wall Street Analysts Forecast Growth

NCNO has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 target price on shares of nCino in a report on Wednesday, August 28th. Needham & Company LLC decreased their price objective on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $42.00 in a report on Wednesday, August 14th. William Blair reissued an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Finally, Stephens reissued an “equal weight” rating and set a $35.00 price objective on shares of nCino in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.18.

nCino Stock Performance

nCino stock opened at $31.01 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. nCino, Inc. has a 1 year low of $27.13 and a 1 year high of $37.48. The company has a market cap of $3.57 billion, a PE ratio of -100.03, a PEG ratio of 23.49 and a beta of 0.58. The company’s 50-day moving average is $31.53 and its two-hundred day moving average is $31.49.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. nCino’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the company posted ($0.02) EPS. Equities analysts anticipate that nCino, Inc. will post 0.06 earnings per share for the current year.

nCino Company 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.