Gagnon Securities LLC Buys 35,236 Shares of nCino Inc. $NCNO

Gagnon Securities LLC increased its stake in shares of nCino Inc. (NASDAQ:NCNO) by 92.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,494 shares of the company’s stock after acquiring an additional 35,236 shares during the quarter. Gagnon Securities LLC’s holdings in nCino were worth $1,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC boosted its stake in nCino by 255.8% during the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after acquiring an additional 821 shares in the last quarter. AlphaQuest LLC boosted its stake in nCino by 5,022.2% during the third quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock worth $37,000 after acquiring an additional 1,356 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in nCino during the fourth quarter worth $38,000. Farther Finance Advisors LLC boosted its stake in nCino by 76.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after acquiring an additional 722 shares in the last quarter. Finally, Quarry LP boosted its stake in nCino by 138.2% during the third quarter. Quarry LP now owns 1,701 shares of the company’s stock worth $46,000 after acquiring an additional 987 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

nCino Trading Up 3.9%

Shares of nCino stock opened at $15.32 on Friday. The stock has a fifty day simple moving average of $16.64 and a 200 day simple moving average of $19.34. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92. The company has a market capitalization of $1.68 billion, a P/E ratio of 127.67 and a beta of 0.69. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.16. The business had revenue of $149.67 million during the quarter, compared to the consensus estimate of $147.41 million. nCino had a return on equity of 6.85% and a net margin of 2.17%.nCino’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. On average, sell-side analysts anticipate that nCino Inc. will post 0.68 earnings per share for the current fiscal year.

Insider Activity

In related news, insider April Rieger sold 9,693 shares of the firm’s stock in a transaction dated 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 directly owned 383,601 shares of the company’s stock, valued at $6,912,490.02. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sean Desmond sold 22,073 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $397,755.46. Following the transaction, the chief executive officer directly owned 1,271,016 shares in the company, valued at $22,903,708.32. The trade was a 1.71% 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. Insiders sold 172,982 shares of company stock valued at $3,032,059 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on NCNO shares. Morgan Stanley cut their target price 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. 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 lowered their price objective on shares of nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Stephens reduced their price objective on shares of nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Finally, Robert W. Baird reduced their price objective on shares of nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, nCino currently has an average rating of “Moderate Buy” and a consensus target price of $25.21.

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.