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

ShawSpring Partners LLC decreased its holdings in shares of nCino Inc. (NASDAQ:NCNO) by 46.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,553,659 shares of the company’s stock after selling 1,334,107 shares during the quarter. nCino makes up approximately 6.3% of ShawSpring Partners LLC’s holdings, making the stock its 8th biggest holding. ShawSpring Partners LLC’s holdings in nCino were worth $42,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Long Path Partners LP raised its position in shares of nCino by 61.1% during the 2nd quarter. Long Path Partners LP now owns 4,787,869 shares of the company’s stock worth $133,917,000 after acquiring an additional 1,815,868 shares in the last quarter. Spyglass Capital Management LLC acquired a new position in shares of nCino in the 2nd quarter valued at $44,190,000. Owls Nest Partners IA LLC acquired a new stake in nCino during the second quarter worth approximately $33,442,000. Hood River Capital Management LLC purchased a new position in shares of nCino in the second quarter worth about $28,183,000. Finally, Balyasny Asset Management L.P. purchased a new position in nCino during the 2nd quarter valued at about $26,238,000. Institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at nCino

In other news, insider April Rieger sold 8,078 shares of nCino 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 completion of the transaction, the insider owned 221,696 shares in the company, valued at approximately $4,141,281.28. This trade represents a 3.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean Desmond sold 16,047 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total value of $299,757.96. Following the completion of the transaction, the chief executive officer owned 602,550 shares of the company’s stock, valued at $11,255,634. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 71,310 shares of company stock worth $1,382,650. 5.70% of the stock is currently owned by company insiders.

nCino Trading Down 3.6%

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. The company’s 50 day moving average price is $19.84 and its two-hundred day moving average price is $24.34. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $33.92. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -84.53, a PEG ratio of 3.11 and a beta of 0.59.

nCino declared that its board has authorized a share repurchase plan on Monday, December 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NCNO shares. BTIG Research assumed coverage on shares of nCino in a research note on Tuesday, December 16th. They set a “neutral” rating on the stock. Piper Sandler decreased their price objective on nCino from $34.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, December 4th. Keefe, Bruyette & Woods lifted their target price on nCino from $34.50 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. UBS Group reiterated a “buy” rating and set a $36.00 price objective on shares of nCino in a report on Tuesday, December 9th. Finally, Truist Financial decreased their price objective on shares of nCino from $32.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, nCino has an average rating of “Moderate Buy” and an average price target of $32.33.

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.