Kayne Anderson Rudnick Investment Management LLC Sells 512,676 Shares of nCino, Inc. (NASDAQ:NCNO)

Kayne Anderson Rudnick Investment Management LLC decreased its position in nCino, Inc. (NASDAQ:NCNO - Free Report) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,892,330 shares of the company's stock after selling 512,676 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 5.95% of nCino worth $231,444,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. HighTower Advisors LLC boosted its position in nCino by 11.4% during the third quarter. HighTower Advisors LLC now owns 16,906 shares of the company's stock worth $531,000 after acquiring an additional 1,724 shares during the last quarter. Barclays PLC boosted its holdings in nCino by 22.2% during the 3rd quarter. Barclays PLC now owns 73,014 shares of the company's stock valued at $2,306,000 after acquiring an additional 13,252 shares during the period. Geode Capital Management LLC grew its holdings in shares of nCino by 26.1% in the third quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company's stock valued at $47,951,000 after purchasing an additional 313,637 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of nCino during the third quarter worth $189,000. Finally, Synovus Financial Corp acquired a new stake in nCino in the 3rd quarter valued at about $656,000. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Price Performance

Shares of NCNO traded down $0.45 on Wednesday, hitting $22.83. The company's stock had a trading volume of 2,935,360 shares, compared to its average volume of 1,390,100. The company has a market capitalization of $2.66 billion, a PE ratio of -134.27, a PEG ratio of 5.77 and a beta of 0.69. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a 50 day moving average price of $27.53 and a 200 day moving average price of $33.20. 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 announced its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). The firm 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 quarter in the previous year, the business posted $0.21 earnings per share. On average, research analysts anticipate that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at nCino

In other nCino news, CFO Gregory Orenstein sold 2,356 shares of the company'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 value of $52,562.36. Following the completion of the transaction, the chief financial officer now directly owns 329,735 shares in the company, valued at approximately $7,356,387.85. This represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pierre Naude sold 31,123 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the transaction, the director now owns 1,066,090 shares of the company's stock, valued at $22,238,637.40. This trade represents a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,012 shares of company stock valued at $2,694,676 in the last quarter. Company insiders own 28.40% of the company's stock.

Analysts Set New Price Targets

NCNO has been the topic of a number of research reports. Barclays dropped their price target on nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Needham & Company LLC dropped their price objective on nCino from $45.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. William Blair downgraded shares of nCino from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price objective on nCino from $40.00 to $28.00 and set an "outperform" rating on the stock in a research note on Thursday, April 3rd. Finally, Piper Sandler cut their price target on nCino from $28.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, nCino currently has a consensus rating of "Hold" and an average target price of $30.40.

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.