Clearbridge Investments LLC Sells 67,785 Shares of nCino, Inc. (NASDAQ:NCNO)

Clearbridge Investments LLC lessened its holdings in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,708,602 shares of the company's stock after selling 67,785 shares during the period. Clearbridge Investments LLC owned 1.48% of nCino worth $57,375,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of NCNO. Asset Management One Co. Ltd. raised its position in nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock worth $78,000 after purchasing an additional 323 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of nCino by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock valued at $407,000 after buying an additional 340 shares during the period. Berry Wealth Group LP raised its position in shares of nCino by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock worth $276,000 after acquiring an additional 400 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of nCino by 2.2% in the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock worth $772,000 after acquiring an additional 500 shares during the period. Finally, Precision Wealth Strategies LLC boosted its holdings in nCino by 5.3% in the fourth quarter. Precision Wealth Strategies LLC now owns 14,278 shares of the company's stock valued at $479,000 after acquiring an additional 714 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

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nCino Stock Down 1.2 %

Shares of NCNO traded down $0.26 during trading hours on Friday, reaching $21.45. The stock had a trading volume of 3,429,119 shares, compared to its average volume of 1,312,249. The firm has a 50-day simple moving average of $30.58 and a 200 day simple moving average of $34.00. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. 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 company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -126.17, a P/E/G ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the business posted $0.21 earnings per share. Equities research analysts predict that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino declared that its board has initiated a stock repurchase plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods dropped their price target on shares of nCino from $40.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday. The Goldman Sachs Group downgraded shares of nCino from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $42.00 to $24.00 in a research note on Wednesday. Macquarie upped their price target on shares of nCino from $40.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Scotiabank reiterated a "sector perform" rating and set a $19.00 price target (down from $35.00) on shares of nCino in a report on Wednesday. Finally, Barclays dropped their price objective on nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday. 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 $30.33.

Insiders Place Their Bets

In related news, Director Jeff Horing sold 54,876 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the transaction, the director now directly owns 4,458,591 shares of the company's stock, valued at $156,050,685. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider April Rieger sold 4,325 shares of the company'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 $140,995.00. Following the completion of the sale, the insider now directly owns 145,953 shares of the company's stock, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,864 shares of company stock valued at $4,215,221. Corporate insiders own 28.40% of the company's stock.

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.