Oxford Asset Management LLP Makes New Investment in nCino, Inc. (NASDAQ:NCNO)

Oxford Asset Management LLP bought a new position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,252 shares of the company's stock, valued at approximately $646,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in nCino by 9.6% during the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company's stock worth $363,697,000 after buying an additional 948,282 shares in the last quarter. Wasatch Advisors LP increased its position in shares of nCino by 171.9% during the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock worth $207,450,000 after purchasing an additional 3,905,802 shares in the last quarter. Capital International Investors lifted its holdings in nCino by 57.4% in the 4th quarter. Capital International Investors now owns 4,691,204 shares of the company's stock valued at $157,531,000 after purchasing an additional 1,710,893 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in nCino by 139.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock worth $108,834,000 after purchasing an additional 1,889,283 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of nCino by 3,006.0% during the fourth quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock worth $87,392,000 after buying an additional 2,518,707 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NCNO shares. Raymond James lowered their price target on shares of nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price target on nCino from $40.00 to $28.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. Piper Sandler reduced their price objective on nCino from $28.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Scotiabank reaffirmed a "sector perform" rating and issued a $19.00 target price (down from $35.00) on shares of nCino in a research note on Wednesday, April 2nd. Finally, Bank of America lifted their price target on nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, April 10th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $30.40.

nCino Trading Up 2.1 %

Shares of NCNO stock traded up $0.48 on Tuesday, hitting $23.40. The stock had a trading volume of 2,295,000 shares, compared to its average volume of 1,404,084. The company's 50 day moving average price is $26.71 and its 200-day moving average price is $32.95. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20. The firm has a market capitalization of $2.72 billion, a P/E ratio of -137.64, 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.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). The business had revenue of $141.37 million during the quarter, compared to analysts' expectations of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. Analysts anticipate that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino announced that its board has authorized a share buyback plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at nCino

In other news, CFO Gregory Orenstein sold 5,148 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $167,824.80. Following the completion of the transaction, the chief financial officer now directly owns 271,744 shares of the company's stock, valued at approximately $8,858,854.40. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Pierre Naude sold 10,638 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total transaction of $237,333.78. Following the completion of the sale, the director now directly owns 1,055,452 shares in the company, valued at approximately $23,547,134.12. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,012 shares of company stock worth $2,694,676. Company insiders own 28.40% of the company's stock.

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.