nCino, Inc. (NASDAQ:NCNO) Shares Purchased by Barclays PLC

Barclays PLC raised its position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 363.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 338,088 shares of the company's stock after buying an additional 265,074 shares during the quarter. Barclays PLC owned about 0.29% of nCino worth $11,352,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Asset Management One Co. Ltd. raised its holdings in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock worth $78,000 after buying an additional 323 shares during the last quarter. Victory Capital Management Inc. increased its holdings in nCino by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock worth $407,000 after buying an additional 340 shares in the last quarter. Berry Wealth Group LP raised its position in nCino by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock worth $276,000 after buying an additional 400 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in nCino by 2.2% during the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock valued at $772,000 after acquiring an additional 500 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of nCino by 1.2% during the 4th quarter. Sterling Capital Management LLC now owns 48,945 shares of the company's stock valued at $1,644,000 after acquiring an additional 583 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

Insider Activity

In other news, CFO Gregory Orenstein sold 5,148 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $167,824.80. Following the transaction, the chief financial officer now owns 271,744 shares of the company's stock, valued at approximately $8,858,854.40. This represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sean Desmond sold 2,301 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $22.31, for a total transaction of $51,335.31. Following the completion of the sale, the chief executive officer now directly owns 296,296 shares of the company's stock, valued at $6,610,363.76. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,012 shares of company stock valued at $2,694,676. 28.40% of the stock is currently owned by insiders.

nCino Trading Down 1.9 %

NCNO traded down $0.45 on Wednesday, hitting $22.83. The company had a trading volume of 2,935,360 shares, compared to its average volume of 1,390,100. The business's fifty day simple moving average is $27.53 and its 200 day simple moving average is $33.20. 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 12-month low of $18.75 and a 12-month high of $43.20. The company has a market cap of $2.66 billion, a PE ratio of -134.27, a PEG ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO - Get Free Report) last announced its earnings results on Tuesday, April 1st. The company reported $0.12 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 analysts' expectations of $140.81 million. During the same quarter last year, the firm posted $0.21 EPS. nCino's revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts expect that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its Board of Directors has authorized a share buyback program on Tuesday, April 1st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

NCNO has been the topic of a number of research analyst reports. Scotiabank restated a "sector perform" rating and set a $19.00 price objective (down previously from $35.00) on shares of nCino in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their target price on shares of nCino from $40.00 to $28.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. Truist Financial cut shares of nCino from a "buy" rating to a "hold" rating and dropped their price target for the stock from $44.00 to $21.00 in a research note on Wednesday, April 2nd. Needham & Company LLC decreased their target price on nCino from $45.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group lowered shares of nCino from a "buy" rating to a "neutral" rating and cut their price objective for the company from $42.00 to $24.00 in a report on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, nCino currently has an average rating of "Hold" and a consensus target price of $30.40.

nCino 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.