nCino, Inc. (NASDAQ:NCNO) Stock Position Cut by HMI Capital Management L.P.

HMI Capital Management L.P. decreased its holdings in nCino, Inc. (NASDAQ:NCNO - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,773,778 shares of the company's stock after selling 1,100,000 shares during the period. nCino comprises approximately 11.4% of HMI Capital Management L.P.'s holdings, making the stock its 5th largest holding. HMI Capital Management L.P. owned approximately 5.85% of nCino worth $227,463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lead Edge Capital Management LLC increased its stake in nCino by 24.7% in the fourth quarter. Lead Edge Capital Management LLC now owns 831,672 shares of the company's stock worth $27,928,000 after purchasing an additional 164,672 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of nCino by 139.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock worth $108,834,000 after buying an additional 1,889,283 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of nCino by 10.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 93,588 shares of the company's stock worth $3,144,000 after buying an additional 8,917 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of nCino during the 4th quarter worth $306,000. Finally, Tower Research Capital LLC TRC grew its position in shares of nCino by 549.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,013 shares of the company's stock worth $370,000 after buying an additional 9,316 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

NCNO has been the topic of a number of recent research reports. Stephens reissued an "equal weight" rating and set a $38.00 price target on shares of nCino in a research report on Wednesday, April 2nd. Raymond James dropped their price target on nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price target on nCino from $40.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Scotiabank reissued a "sector perform" rating and set a $19.00 price target (down previously from $35.00) on shares of nCino in a research report on Wednesday, April 2nd. Finally, KeyCorp reissued a "sector weight" rating on shares of nCino in a research report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, nCino has an average rating of "Hold" and an average target price of $30.40.

Insider Buying and Selling at nCino

In other news, CFO Gregory Orenstein sold 5,148 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $167,824.80. Following the sale, the chief financial officer now owns 271,744 shares in the company, valued at $8,858,854.40. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pierre Naude sold 10,638 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $22.31, for a total transaction of $237,333.78. Following the completion of the sale, the director now owns 1,055,452 shares in the company, valued at $23,547,134.12. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,012 shares of company stock worth $2,694,676. 28.40% of the stock is owned by corporate insiders.

nCino Stock Performance

nCino stock traded down $0.12 during mid-day trading on Monday, reaching $22.92. 1,520,832 shares of the company traded hands, compared to its average volume of 1,399,650. 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, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -134.82, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The firm's fifty day moving average is $26.90 and its two-hundred day moving average is $33.02.

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

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

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.