nCino Inc. $NCNO is ShawSpring Partners LLC’s 8th Largest Position

ShawSpring Partners LLC trimmed its position in nCino Inc. (NASDAQ:NCNO) by 46.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,553,659 shares of the company’s stock after selling 1,334,107 shares during the period. nCino comprises approximately 6.3% of ShawSpring Partners LLC’s holdings, making the stock its 8th largest holding. ShawSpring Partners LLC owned about 1.34% of nCino worth $42,120,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Millennium Management LLC boosted its holdings in nCino by 16.6% in the 1st quarter. Millennium Management LLC now owns 303,853 shares of the company’s stock valued at $8,347,000 after purchasing an additional 43,247 shares during the period. Woodline Partners LP grew its stake in nCino by 105.3% in the 1st quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock valued at $363,000 after acquiring an additional 6,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in nCino by 16.3% in the first 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 purchasing an additional 39,345 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of nCino by 208.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 107,594 shares of the company’s stock valued at $3,009,000 after purchasing an additional 72,716 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of nCino by 5.7% during the second quarter. Geode Capital Management LLC now owns 1,760,447 shares of the company’s stock worth $49,247,000 after purchasing an additional 94,733 shares during the period. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

NCNO has been the topic of a number of recent analyst reports. Piper Sandler cut their target price on nCino from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, December 4th. Barclays lowered their target price on shares of nCino from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, January 5th. UBS Group restated a “buy” rating and set a $36.00 price target on shares of nCino in a research report on Tuesday, December 9th. Needham & Company LLC reissued a “buy” rating and set a $38.00 price target on shares of nCino in a research note on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nCino in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.33.

Insider Activity at nCino

In other nCino news, CFO Gregory Orenstein sold 10,562 shares of nCino stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $197,298.16. Following the completion of the transaction, the chief financial officer directly owned 451,184 shares of the company’s stock, valued at $8,428,117.12. The trade was a 2.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jeanette Sellers sold 2,182 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $18.26, for a total value of $39,843.32. Following the completion of the transaction, the senior vice president directly owned 43,219 shares of the company’s stock, valued at approximately $789,178.94. This trade represents a 4.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 71,310 shares of company stock valued at $1,382,650 in the last 90 days. 5.70% of the stock is currently owned by corporate insiders.

nCino Stock Performance

NASDAQ NCNO opened at $15.22 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.01 and a quick ratio of 1.01. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $33.92. The company’s 50 day simple moving average is $19.84 and its two-hundred day simple moving average is $24.34. The stock has a market capitalization of $1.74 billion, a PE ratio of -84.53, a P/E/G ratio of 3.11 and a beta of 0.59.

nCino declared that its Board of Directors has approved a share buyback program on Monday, December 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

nCino Company 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.