Advantage Alpha Capital Partners LP Purchases 87,274 Shares of nCino Inc. $NCNO

Advantage Alpha Capital Partners LP grew its holdings in shares of nCino Inc. (NASDAQ:NCNO) by 79.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 196,734 shares of the company’s stock after purchasing an additional 87,274 shares during the quarter. nCino comprises about 1.5% of Advantage Alpha Capital Partners LP’s investment portfolio, making the stock its 8th biggest position. Advantage Alpha Capital Partners LP owned approximately 0.17% of nCino worth $5,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. lifted its position in nCino by 68.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock worth $32,000 after acquiring an additional 458 shares during the last quarter. Hilltop National Bank bought a new position in nCino in the 2nd quarter worth approximately $42,000. Covestor Ltd lifted its holdings in shares of nCino by 27.6% during the first quarter. Covestor Ltd now owns 2,388 shares of the company’s stock worth $66,000 after buying an additional 517 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of nCino during the first quarter worth approximately $102,000. Finally, Parallel Advisors LLC boosted its position in shares of nCino by 23.8% in the second quarter. Parallel Advisors LLC now owns 4,248 shares of the company’s stock valued at $119,000 after acquiring an additional 816 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

nCino Stock Performance

NASDAQ NCNO opened at $24.64 on Friday. nCino Inc. has a twelve month low of $18.75 and a twelve month high of $42.88. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.85 billion, a P/E ratio of -84.97, a PEG ratio of 15.52 and a beta of 0.62. The company’s 50-day simple moving average is $25.95 and its 200 day simple moving average is $27.44.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, August 26th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. nCino had a positive return on equity of 1.18% and a negative net margin of 5.86%.The company had revenue of $148.82 million for the quarter, compared to the consensus estimate of $143.17 million. During the same period in the previous year, the business earned $0.14 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts forecast that nCino Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at nCino

In other nCino news, CEO Sean Desmond sold 10,006 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $25.81, for a total transaction of $258,254.86. Following the completion of the transaction, the chief executive officer directly owned 618,597 shares in the company, valued at $15,965,988.57. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider April Rieger sold 4,731 shares of nCino stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $25.81, for a total value of $122,107.11. Following the transaction, the insider directly owned 229,774 shares of the company’s stock, valued at approximately $5,930,466.94. The trade was a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,940,562 shares of company stock worth $118,143,440 over the last three months. 5.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NCNO. Robert W. Baird boosted their target price on shares of nCino from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. UBS Group restated a “neutral” rating on shares of nCino in a report on Wednesday, August 27th. Barclays lifted their target price on nCino from $31.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 27th. Morgan Stanley upped their price target on nCino from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, August 27th. Finally, Stephens upgraded nCino from a “hold” rating to an “overweight” rating in a research report on Monday, October 27th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.94.

About nCino

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.