JPMorgan Chase & Co. Sells 170,687 Shares of nCino Inc. $NCNO

JPMorgan Chase & Co. trimmed its holdings in shares of nCino Inc. (NASDAQ:NCNO) by 14.0% in the 3rd quarter, Holdings Channel reports. The firm owned 1,046,781 shares of the company’s stock after selling 170,687 shares during the quarter. JPMorgan Chase & Co.’s holdings in nCino were worth $28,378,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Long Path Partners LP increased its stake in nCino by 61.1% in the 2nd quarter. Long Path Partners LP now owns 4,787,869 shares of the company’s stock worth $133,917,000 after buying an additional 1,815,868 shares during the period. Spyglass Capital Management LLC purchased a new position in shares of nCino during the second quarter worth approximately $44,190,000. Owls Nest Partners IA LLC bought a new stake in shares of nCino during the second quarter valued at approximately $33,442,000. Hood River Capital Management LLC purchased a new stake in shares of nCino in the second quarter valued at approximately $28,183,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of nCino in the second quarter valued at approximately $26,238,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at nCino

In other nCino news, Director Pierre Naude sold 24,273 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $453,419.64. Following the completion of the sale, the director owned 1,166,823 shares of the company’s stock, valued at approximately $21,796,253.64. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeanette Sellers sold 2,182 shares of nCino stock in a transaction that occurred 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 owned 43,219 shares of the company’s stock, valued at $789,178.94. This trade represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 78,641 shares of company stock valued at $1,559,400 over the last three months. Company insiders own 5.70% of the company’s stock.

nCino Price Performance

Shares of NCNO stock opened at $16.14 on Friday. The stock’s 50-day moving average is $21.59 and its 200 day moving average is $25.05. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92. 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 has a market cap of $1.85 billion, a P/E ratio of -89.67, a PEG ratio of 3.18 and a beta of 0.55.

nCino (NASDAQ:NCNO) last announced its earnings results on Wednesday, December 3rd. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.11. nCino had a negative net margin of 3.71% and a positive return on equity of 2.28%. The business had revenue of $152.16 million during the quarter, compared to the consensus estimate of $147.31 million. During the same period in the previous year, the company posted $0.21 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. nCino has set its FY 2026 guidance at 0.900-0.910 EPS and its Q4 2026 guidance at 0.210-0.220 EPS. Research analysts predict that nCino Inc. will post 0.12 earnings per share for the current fiscal year.

nCino declared that its Board of Directors has initiated a share buyback program on Monday, December 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have commented on the company. BTIG Research assumed coverage on nCino in a report on Tuesday, December 16th. They set a “neutral” rating on the stock. Truist Financial dropped their price target on nCino from $32.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, December 4th. Weiss Ratings restated a “sell (d-)” rating on shares of nCino in a report on Thursday, January 22nd. Zacks Research lowered shares of nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of nCino in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.33.

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.