By otakuyassine3@gmail.com 
Thrivent Financial for Lutherans trimmed its position in nCino, Inc. (NASDAQ:NCNO – Free Report) by 28.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,523 shares of the company’s stock after selling 6,266 shares during the quarter. Thrivent Financial for Lutherans’ holdings in nCino were worth $522,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Nicholas Company Inc. boosted its holdings in nCino by 7.9% in the 4th quarter. Nicholas Company Inc. now owns 203,627 shares of the company’s stock worth $6,838,000 after acquiring an additional 14,829 shares during the period. one8zero8 LLC purchased a new position in shares of nCino in the fourth quarter valued at $2,652,000. Natixis Advisors LLC grew its holdings in nCino by 88.1% during the 4th quarter. Natixis Advisors LLC now owns 27,676 shares of the company’s stock valued at $929,000 after purchasing an additional 12,965 shares in the last quarter. Picton Mahoney Asset Management increased its stake in nCino by 94.5% during the 4th quarter. Picton Mahoney Asset Management now owns 390,752 shares of the company’s stock worth $13,122,000 after buying an additional 189,827 shares during the period. Finally, Swiss National Bank lifted its holdings in nCino by 7.9% in the 4th quarter. Swiss National Bank now owns 181,800 shares of the company’s stock worth $6,105,000 after buying an additional 13,300 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.
Insider Activity at nCino
In related news, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $140,995.00. Following the transaction, the insider now owns 145,953 shares in the company, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sean Desmond sold 5,034 shares of nCino stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40. Following the sale, the chief executive officer now owns 306,477 shares of the company’s stock, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,877 shares of company stock valued at $2,963,893 in the last three months. Corporate insiders own 28.40% of the company’s stock.
nCino Stock Down 3.9 %
NCNO opened at $21.71 on Friday. The company has a market capitalization of $2.51 billion, a P/E ratio of -127.70, a P/E/G ratio of 5.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The firm’s fifty day moving average price is $30.80 and its two-hundred day moving average price is $34.03. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20.
nCino (NASDAQ:NCNO – Get Free Report) last issued its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The company had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. During the same period in the previous year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. On average, analysts anticipate that nCino, Inc. will post 0.12 EPS for the current year.
nCino declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 1st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their price objective on nCino from $39.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday. Truist Financial downgraded shares of nCino from a “buy” rating to a “hold” rating and decreased their price target for the stock from $44.00 to $21.00 in a research report on Wednesday. The Goldman Sachs Group cut shares of nCino from a “buy” rating to a “neutral” rating and cut their price target for the company from $42.00 to $24.00 in a report on Wednesday. William Blair downgraded shares of nCino from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Scotiabank reissued a “sector perform” rating and issued a $19.00 target price (down previously from $35.00) on shares of nCino in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.33.
View Our Latest Stock Report on nCino
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.
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