Capital International Investors Purchases 1,710,893 Shares of nCino, Inc. (NASDAQ:NCNO)

Capital International Investors increased its stake in nCino, Inc. (NASDAQ:NCNO - Free Report) by 57.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,691,204 shares of the company's stock after purchasing an additional 1,710,893 shares during the quarter. Capital International Investors owned approximately 4.05% of nCino worth $157,531,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its stake in shares of nCino by 171.9% in the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock worth $207,450,000 after buying an additional 3,905,802 shares during the last quarter. Invesco Ltd. lifted its position in nCino by 3,006.0% during the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock worth $87,392,000 after acquiring an additional 2,518,707 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in nCino during the 4th quarter worth $81,254,000. Conestoga Capital Advisors LLC bought a new stake in nCino during the fourth quarter valued at about $70,256,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of nCino in the fourth quarter valued at about $39,334,000. Institutional investors own 94.76% of the company's stock.

nCino Price Performance

nCino stock traded down $0.45 on Wednesday, reaching $22.83. The company's stock had a trading volume of 2,935,360 shares, compared to its average volume of 1,388,037. nCino, Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -134.27, a PEG ratio of 5.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The business's fifty day moving average price is $27.75 and its 200 day moving average price is $33.27.

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 the consensus estimate of $0.18 by ($0.06). The company had revenue of $141.37 million for 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%. The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. Equities analysts expect that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

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

Insider Activity

In other nCino news, insider April Rieger sold 4,325 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the transaction, the insider now directly owns 145,953 shares in the company, valued at approximately $4,758,067.80. This represents a 2.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sean Desmond sold 2,301 shares of nCino stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $22.31, for a total transaction of $51,335.31. Following the sale, the chief executive officer now owns 296,296 shares of the company's stock, valued at approximately $6,610,363.76. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,012 shares of company stock valued at $2,694,676. Company insiders own 28.40% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on NCNO. Needham & Company LLC lowered their target price on nCino from $45.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. KeyCorp reiterated a "sector weight" rating on shares of nCino in a research note on Monday, February 3rd. Bank of America boosted their price objective on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, April 10th. The Goldman Sachs Group cut shares of 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 research note on Wednesday, April 2nd. 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 given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $30.40.

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.