Lead Edge Capital Management LLC Makes New Investment in nCino Inc. $NCNO

Lead Edge Capital Management LLC bought a new stake in nCino Inc. (NASDAQ:NCNO) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 3,662,570 shares of the company’s stock, valued at approximately $59,883,020,000. nCino accounts for about 10.9% of Lead Edge Capital Management LLC’s portfolio, making the stock its 6th biggest holding.

Other hedge funds have also made changes to their positions in the company. CWM LLC boosted its position in shares of nCino by 255.8% in the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after buying an additional 821 shares in the last quarter. Optiver Holding B.V. acquired a new stake in nCino in the 1st quarter valued at about $32,000. Los Angeles Capital Management LLC purchased a new position in nCino during the 4th quarter valued at about $38,000. Versant Capital Management Inc raised its position in nCino by 664.9% during the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after acquiring an additional 2,101 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in nCino by 76.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after acquiring an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at nCino

In other news, CFO Gregory Orenstein sold 11,780 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $226,411.60. Following the completion of the transaction, the chief financial officer owned 690,513 shares of the company’s stock, valued at $13,271,659.86. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeanette Sellers sold 1,536 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total transaction of $29,998.08. Following the completion of the transaction, the senior vice president directly owned 48,453 shares of the company’s stock, valued at approximately $946,287.09. This represents a 3.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 83,350 shares of company stock valued at $1,568,144. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

NCNO has been the topic of several research reports. Citizens Jmp lowered their price target on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, May 18th. JPMorgan Chase & Co. lifted their price objective on nCino from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, June 22nd. Zacks Research lowered nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of nCino in a report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of nCino in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

nCino Price Performance

NASDAQ:NCNO opened at $20.95 on Tuesday. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 174.58 and a beta of 0.66. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average is $17.78 and its two-hundred day moving average is $16.85. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92.

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.