nCino, Inc. (NASDAQ:NCNO) Holdings Lifted by Vanguard Group Inc.

Vanguard Group Inc. raised its position in nCino, Inc. (NASDAQ:NCNO - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,830,773 shares of the company's stock after purchasing an additional 948,282 shares during the period. Vanguard Group Inc. owned about 9.35% of nCino worth $363,697,000 at the end of the most recent reporting period.

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

Insider Activity at nCino

In other news, VP Jeanette Sellers sold 2,501 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $21.51, for a total value of $53,796.51. Following the completion of the transaction, the vice president now owns 19,099 shares of the company's stock, valued at approximately $410,819.49. This represents a 11.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider April Rieger sold 7,881 shares of nCino stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $164,397.66. Following the sale, the insider now owns 138,072 shares in the company, valued at approximately $2,880,181.92. This represents a 5.40 % 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 worth $2,348,358 in the last three months. 28.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Raymond James dropped their price target on shares of nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Stephens restated an "equal weight" rating and set a $38.00 price objective on shares of nCino in a report on Wednesday, April 2nd. The Goldman Sachs Group cut nCino from a "buy" rating to a "neutral" rating and reduced their target price for the company from $42.00 to $24.00 in a report on Wednesday, April 2nd. Piper Sandler dropped their price target on nCino from $38.00 to $28.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Truist Financial downgraded nCino from a "buy" rating to a "hold" rating and cut their price objective for the stock from $44.00 to $21.00 in a report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.33.

nCino Stock Performance

NCNO stock traded up $0.33 during mid-day trading on Tuesday, reaching $22.05. The company had a trading volume of 4,755,683 shares, compared to its average volume of 1,341,881. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20. The stock has a market capitalization of $2.57 billion, a P/E ratio of -129.70, a P/E/G ratio of 5.77 and a beta of 0.69. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock's 50-day simple moving average is $29.84 and its two-hundred day simple moving average is $33.83.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. Research analysts anticipate that nCino, Inc. will post 0.12 EPS for the current year.

nCino declared that its board has approved a share buyback plan on Tuesday, April 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback plans 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.