Shannon River Fund Management LLC Has $42.80 Million Holdings in nCino Inc. $NCNO

Shannon River Fund Management LLC boosted its position in shares of nCino Inc. (NASDAQ:NCNO) by 27.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,578,896 shares of the company’s stock after acquiring an additional 339,863 shares during the quarter. nCino accounts for 6.9% of Shannon River Fund Management LLC’s portfolio, making the stock its 6th biggest holding. Shannon River Fund Management LLC owned 1.36% of nCino worth $42,804,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NCNO. Millennium Management LLC increased its position in shares of nCino by 16.6% during 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 last quarter. Woodline Partners LP raised its holdings in nCino by 105.3% during the first 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 lifted its position in shares of 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 acquiring an additional 39,345 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in shares of nCino in the second quarter valued at about $423,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of nCino by 208.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 107,594 shares of the company’s stock worth $3,009,000 after acquiring an additional 72,716 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Trading Down 0.6%

Shares of NCNO opened at $15.78 on Thursday. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -87.67, a PEG ratio of 3.13 and a beta of 0.59. 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 has a 50-day moving average of $20.05 and a 200 day moving average of $24.40.

nCino announced that its board has authorized a stock repurchase plan on Monday, December 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NCNO shares. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of nCino in a research note on Thursday, December 4th. UBS Group restated a “buy” rating and issued a $36.00 price target on shares of nCino in a research report on Tuesday, December 9th. JPMorgan Chase & Co. decreased their price objective on nCino from $30.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Keefe, Bruyette & Woods lifted their price objective on shares of nCino from $34.50 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Finally, Zacks Research downgraded shares of nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Insider Buying and Selling at nCino

In related news, insider April Rieger sold 8,078 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $150,897.04. Following the transaction, the insider owned 221,696 shares of the company’s stock, valued at $4,141,281.28. This represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $39,843.32. Following the transaction, the senior vice president owned 43,219 shares in the company, valued at $789,178.94. The trade was a 4.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 71,310 shares of company stock valued at $1,382,650. 5.70% of the stock is owned by corporate insiders.

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.