ShawSpring Partners LLC Has $83.83 Million Position in nCino, Inc. (NASDAQ:NCNO)

ShawSpring Partners LLC increased its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 115.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,653,687 shares of the company’s stock after buying an additional 1,424,349 shares during the period. nCino accounts for approximately 10.6% of ShawSpring Partners LLC’s holdings, making the stock its 6th biggest holding. ShawSpring Partners LLC owned about 2.30% of nCino worth $83,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NCNO. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of nCino by 8.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock valued at $244,766,000 after acquiring an additional 635,064 shares during the period. Vanguard Group Inc. lifted its position in nCino by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock valued at $266,247,000 after purchasing an additional 148,390 shares during the period. Long Path Partners LP lifted its position in nCino by 43.7% during the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after purchasing an additional 1,131,271 shares during the period. Brown Brothers Harriman & Co. lifted its position in nCino by 55.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock valued at $65,261,000 after purchasing an additional 736,627 shares during the period. Finally, Millennium Management LLC lifted its holdings in nCino by 438.3% in the second quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock valued at $45,673,000 after buying an additional 1,182,452 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stephens restated an “equal weight” rating and issued a $35.00 price objective on shares of nCino in a report on Wednesday, August 28th. The Goldman Sachs Group raised nCino from a “neutral” rating to a “buy” rating and increased their price target for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Piper Sandler reissued an “overweight” rating and issued a $38.00 target price on shares of nCino in a research note on Wednesday, August 28th. Macquarie reiterated an “outperform” rating and issued a $40.00 price target on shares of nCino in a research report on Wednesday, October 23rd. Finally, Truist Financial reiterated a “buy” rating and issued a $44.00 price target (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

nCino Stock Up 0.1 %

NCNO opened at $42.25 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The business has a fifty day simple moving average of $35.95 and a 200 day simple moving average of $33.07. nCino, Inc. has a 1 year low of $27.47 and a 1 year high of $43.20.

nCino (NASDAQ:NCNO) last released its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same period in the prior year, the company posted ($0.02) earnings per share. nCino’s revenue was up 13.0% compared to the same quarter last year. Equities analysts anticipate that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at nCino

In other news, Director Jeff Horing sold 1,833,975 shares of nCino stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50. Following the completion of the sale, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. The trade was a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Ruh sold 10,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the sale, the director now directly owns 226,201 shares in the company, valued at $8,482,537.50. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,235,029 shares of company stock valued at $117,599,204 in the last quarter. Company insiders own 28.40% of the company’s stock.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.