nCino, Inc. (NASDAQ:NCNO) Stake Increased by Franklin Resources Inc.

Franklin Resources Inc. raised its position in nCino, Inc. (NASDAQ:NCNO - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,104,863 shares of the company's stock after purchasing an additional 12,001 shares during the period. Franklin Resources Inc. owned 0.95% of nCino worth $37,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Asset Management One Co. Ltd. lifted its stake in shares of nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock worth $78,000 after acquiring an additional 323 shares during the period. Victory Capital Management Inc. increased its holdings in shares of nCino by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock valued at $407,000 after purchasing an additional 340 shares in the last quarter. Berry Wealth Group LP increased its holdings in shares of nCino by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock valued at $276,000 after purchasing an additional 400 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of nCino by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock valued at $772,000 after purchasing an additional 500 shares in the last quarter. Finally, Precision Wealth Strategies LLC increased its holdings in nCino by 5.3% during the 4th 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 in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at nCino

In other news, VP Jeanette Sellers sold 2,501 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $21.51, for a total transaction of $53,796.51. Following the transaction, the vice president now directly owns 19,099 shares of the company's stock, valued at approximately $410,819.49. The trade was a 11.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gregory Orenstein sold 5,148 shares of the business'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 $167,824.80. Following the transaction, the chief financial officer now directly owns 271,744 shares in the company, valued at approximately $8,858,854.40. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,489 shares of company stock valued at $2,348,358 over the last ninety days. Corporate insiders own 28.40% of the company's stock.

nCino Trading Down 5.6 %

Shares of NCNO traded down $1.38 during mid-day trading on Thursday, hitting $23.06. The company had a trading volume of 315,479 shares, compared to its average volume of 1,727,944. The business's 50-day simple moving average is $29.44 and its 200-day simple moving average is $33.72. 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 1-year low of $18.75 and a 1-year high of $43.20. The stock has a market cap of $2.68 billion, a PE ratio of -135.61, a P/E/G ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO - Get Free Report) last released its earnings results 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 company had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. nCino's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. Sell-side analysts forecast that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino declared that its board has approved a share repurchase program on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on NCNO. Morgan Stanley dropped their target price on shares of nCino from $39.00 to $23.00 and set an "equal weight" rating for the company in a report on Wednesday, April 2nd. Truist Financial downgraded shares of nCino from a "buy" rating to a "hold" rating and dropped their target price for the company from $44.00 to $21.00 in a report on Wednesday, April 2nd. Raymond James lowered their price target on shares of nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Stephens reiterated an "equal weight" rating and set a $38.00 price target on shares of nCino in a report on Wednesday, April 2nd. Finally, 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, April 2nd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $30.60.

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.