Arrowstreet Capital Limited Partnership Acquires New Position in nCino, Inc. (NASDAQ:NCNO)

Arrowstreet Capital Limited Partnership purchased a new position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 105,204 shares of the company's stock, valued at approximately $3,533,000. Arrowstreet Capital Limited Partnership owned approximately 0.09% of nCino at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fifth Third Bancorp purchased a new stake in shares of nCino during the fourth quarter valued at $34,000. Hilltop National Bank acquired a new stake in shares of nCino during the 4th quarter valued at about $37,000. Asset Management One Co. Ltd. lifted its position in shares of nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after buying an additional 323 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of nCino by 32.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock worth $152,000 after purchasing an additional 1,122 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of nCino during the third quarter valued at approximately $189,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at nCino

In other news, CEO Sean Desmond sold 5,034 shares of the firm's stock in a transaction 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 in the company, valued at $9,991,150.20. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Pierre Naude sold 31,123 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $649,225.78. Following the transaction, the director now directly owns 1,066,090 shares of the company's stock, valued at approximately $22,238,637.40. This represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,012 shares of company stock valued at $2,694,676 in the last ninety days. Corporate insiders own 28.40% of the company's stock.

nCino Price Performance

NCNO stock traded up $0.16 on Monday, reaching $24.02. 40,468 shares of the company's stock were exchanged, compared to its average volume of 1,361,825. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. The firm has a market cap of $2.80 billion, a PE ratio of -141.26, a P/E/G ratio of 5.77 and a beta of 0.69. The stock has a fifty day moving average of $29.08 and a 200-day moving average of $33.65.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share 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 firm had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. During the same quarter in the prior year, the company earned $0.21 EPS. The business's revenue was up 14.3% on a year-over-year basis. As a group, equities analysts predict that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino announced that its Board of Directors has authorized a share repurchase program on Tuesday, April 1st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NCNO shares. Stephens restated an "equal weight" rating and issued a $38.00 price target on shares of nCino in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their target price on shares of nCino from $40.00 to $28.00 and set an "outperform" rating for the company in a report on Thursday, April 3rd. Barclays lowered their price objective on shares of nCino from $44.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler cut their price target on nCino from $38.00 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, William Blair downgraded shares of nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $30.60.

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.