Qube Research & Technologies Ltd Makes New $2.40 Million Investment in nCino, Inc. (NASDAQ:NCNO)

Qube Research & Technologies Ltd bought a new position in nCino, Inc. (NASDAQ:NCNO) in the second quarter, HoldingsChannel reports. The fund bought 40,122 shares of the company’s stock, valued at approximately $2,404,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. lifted its position in nCino by 15.1% in the 2nd quarter. Asset Management One Co. Ltd. now owns 1,528 shares of the company’s stock worth $91,000 after buying an additional 200 shares in the last quarter. Panagora Asset Management Inc. lifted its position in nCino by 12.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,838 shares of the company’s stock worth $110,000 after buying an additional 203 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of nCino by 87.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 437 shares of the company’s stock valued at $26,000 after purchasing an additional 204 shares in the last quarter. Atria Investments LLC raised its holdings in shares of nCino by 0.7% during the 2nd quarter. Atria Investments LLC now owns 29,143 shares of the company’s stock valued at $1,746,000 after purchasing an additional 204 shares in the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV raised its holdings in shares of nCino by 4.9% during the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 5,700 shares of the company’s stock valued at $342,000 after purchasing an additional 268 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

A number of research analysts have recently weighed in on the stock. Needham & Company LLC raised their price target on shares of nCino from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 2nd. Piper Sandler raised their price target on shares of nCino from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, September 2nd. Barrington Research raised their price target on shares of nCino from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, September 2nd. Barclays raised their price target on shares of nCino from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, September 2nd. Finally, William Blair assumed coverage on shares of nCino in a research note on Friday, July 16th. They issued an “outperform” rating and a $63.63 target price on the stock. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $79.40.

Shares of NCNO opened at $74.53 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.96 and a quick ratio of 2.96. The company’s 50-day moving average is $68.81 and its 200-day moving average is $65.28. nCino, Inc. has a fifty-two week low of $48.00 and a fifty-two week high of $90.22. The firm has a market capitalization of $7.17 billion, a PE ratio of -143.32 and a beta of 1.88.

nCino (NASDAQ:NCNO) last released its quarterly earnings results on Tuesday, August 31st. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. nCino had a negative net margin of 21.39% and a negative return on equity of 8.95%. The business had revenue of $66.50 million for the quarter, compared to the consensus estimate of $63.72 million. nCino’s revenue for the quarter was up 36.3% compared to the same quarter last year. Analysts predict that nCino, Inc. will post -0.54 earnings per share for the current fiscal year.

In related news, insider Joshua L. Glover sold 20,000 shares of the company’s stock in a transaction dated Monday, October 11th. The shares were sold at an average price of $69.79, for a total value of $1,395,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gregory Orenstein sold 4,018 shares of the stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $63.33, for a total transaction of $254,459.94. The disclosure for this sale can be found here. Insiders sold 199,969 shares of company stock worth $14,470,635 over the last 90 days. 35.40% of the stock is currently owned by corporate insiders.

nCino Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications for financial institutions in the United States and internationally. Its nCino Bank Operating System, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable financial institutions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

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Institutional Ownership by Quarter for nCino (NASDAQ:NCNO)

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