Capital Research Global Investors Purchases Shares of 693,096 nCino, Inc. (NASDAQ:NCNO)

Capital Research Global Investors acquired a new stake in nCino, Inc. (NASDAQ:NCNO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 693,096 shares of the company's stock, valued at approximately $23,274,000. Capital Research Global Investors owned approximately 0.60% of nCino at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NCNO. Wasatch Advisors LP grew 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 buying an additional 3,905,802 shares in the last quarter. Invesco Ltd. increased its position in shares of nCino by 3,006.0% in the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock valued at $87,392,000 after purchasing an additional 2,518,707 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of nCino in the 4th quarter valued at $81,254,000. Conestoga Capital Advisors LLC purchased a new stake in shares of nCino during the 4th quarter worth $70,256,000. Finally, Capital International Investors grew its stake in shares of nCino by 57.4% during the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company's stock worth $157,531,000 after purchasing an additional 1,710,893 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Stock Down 3.2 %

nCino stock opened at $23.18 on Tuesday. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -136.34, a PEG ratio of 5.77 and a beta of 0.69. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average of $27.98 and a two-hundred day moving average of $33.34. nCino, Inc. has a twelve month low of $18.75 and a twelve month high of $43.20.

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

nCino announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on NCNO. UBS Group set a $40.00 price objective on nCino in a research report on Friday, March 28th. Needham & Company LLC cut their price objective on shares of nCino from $45.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Stephens restated an "equal weight" rating and issued a $38.00 target price on shares of nCino in a report on Wednesday, April 2nd. Morgan Stanley dropped their target price on shares of nCino from $39.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays reduced their price target on shares of nCino from $44.00 to $24.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, nCino has a consensus rating of "Hold" and a consensus target price of $30.60.

Insider Buying and Selling

In related news, VP Jeanette Sellers sold 2,501 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $21.51, for a total value of $53,796.51. Following the sale, the vice president now directly owns 19,099 shares of the company's stock, valued at approximately $410,819.49. This represents a 11.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sean Desmond sold 5,034 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the completion of the sale, the chief executive officer now owns 306,477 shares in the company, valued at $9,991,150.20. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,012 shares of company stock valued at $2,694,676 over the last quarter. Company insiders own 28.40% of the company's stock.

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.

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