Neuberger Berman Group LLC Sells 36,921 Shares of nCino Inc. $NCNO

Neuberger Berman Group LLC cut its stake in shares of nCino Inc. (NASDAQ:NCNO) by 39.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,732 shares of the company’s stock after selling 36,921 shares during the period. Neuberger Berman Group LLC’s holdings in nCino were worth $1,565,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NCNO. Farther Finance Advisors LLC boosted its position in shares of nCino by 186.4% in the third quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock valued at $26,000 after acquiring an additional 617 shares during the period. Advisors Asset Management Inc. increased its holdings in nCino by 68.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock worth $32,000 after acquiring an additional 458 shares during the period. AlphaQuest LLC increased its holdings in nCino by 5,022.2% during the 3rd quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock worth $37,000 after acquiring an additional 1,356 shares during the period. Fifth Third Bancorp lifted its stake in nCino by 105.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,915 shares of the company’s stock worth $52,000 after purchasing an additional 982 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in nCino in the 3rd quarter worth approximately $91,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NCNO. Zacks Research lowered shares of nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Piper Sandler reduced their target price on nCino from $34.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, December 4th. UBS Group reaffirmed a “buy” rating and issued a $36.00 price target on shares of nCino in a report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of nCino in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of nCino from $30.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.33.

Insider Activity at nCino

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

nCino Price Performance

Shares of nCino stock opened at $16.82 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 one year low of $13.80 and a one year high of $33.92. The business’s 50 day simple moving average is $20.65 and its two-hundred day simple moving average is $24.66. The stock has a market capitalization of $1.93 billion, a P/E ratio of -93.44, a price-to-earnings-growth ratio of 3.32 and a beta of 0.59.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. nCino had a positive return on equity of 2.28% and a negative net margin of 3.71%.The firm had revenue of $152.16 million during the quarter, compared to analyst estimates of $147.31 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Analysts forecast that nCino Inc. will post 0.12 EPS for the current year.

nCino announced that its board has authorized a stock repurchase program on Monday, December 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

About nCino

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.