Hawk Ridge Capital Management LP Boosts Stock Holdings in nCino Inc. $NCNO

Hawk Ridge Capital Management LP increased its stake in nCino Inc. (NASDAQ:NCNO) by 625.4% during the 1st quarter, Holdings Channel reports. The fund owned 4,481,810 shares of the company’s stock after purchasing an additional 3,864,010 shares during the quarter. nCino makes up approximately 2.4% of Hawk Ridge Capital Management LP’s investment portfolio, making the stock its 16th biggest position. Hawk Ridge Capital Management LP’s holdings in nCino were worth $67,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP boosted its stake in shares of nCino by 208.4% in the 1st quarter. Quantinno Capital Management LP now owns 308,294 shares of the company’s stock valued at $4,618,000 after buying an additional 208,336 shares during the period. Entropy Technologies LP grew its holdings in nCino by 13.7% during the 1st quarter. Entropy Technologies LP now owns 18,720 shares of the company’s stock worth $280,000 after acquiring an additional 2,255 shares in the last quarter. Senvest Management LLC increased its position in shares of nCino by 30.2% in the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock valued at $79,521,000 after purchasing an additional 1,230,192 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of nCino by 1,349.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 613,770 shares of the company’s stock valued at $9,194,000 after purchasing an additional 571,413 shares in the last quarter. Finally, Caxton Associates LLP grew its stake in shares of nCino by 44.4% during the first quarter. Caxton Associates LLP now owns 13,812 shares of the company’s stock worth $207,000 after purchasing an additional 4,245 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NCNO has been the subject of several analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of nCino in a research report on Monday, June 22nd. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of nCino in a research report on Thursday, May 28th. Barclays boosted their target price on nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. raised their price target on nCino from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Finally, Citizens Jmp cut their price target on nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, May 18th. Two investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

Insiders Place Their Bets

In other news, Director Pierre Naude sold 35,650 shares of the business’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 $642,413.00. Following the transaction, the director directly owned 1,108,473 shares in the company, valued at $19,974,683.46. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider April Rieger sold 9,693 shares of the stock in a transaction dated Monday, May 4th. The stock was 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 represents a 2.46% 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. Over the last quarter, insiders have sold 119,964 shares of company stock valued at $2,143,529. Corporate insiders own 1.90% of the company’s stock.

nCino Stock Up 6.6%

Shares of nCino stock opened at $17.65 on Tuesday. The company has a market cap of $1.93 billion, a P/E ratio of 147.08 and a beta of 0.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. nCino Inc. has a one year low of $13.80 and a one year high of $33.92. The firm has a fifty day moving average of $16.18 and a two-hundred day moving average of $17.42.

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.