nCino, Inc. (NASDAQ:NCNO) Shares Bought by Lead Edge Capital Management LLC

Lead Edge Capital Management LLC grew its position in nCino, Inc. (NASDAQ:NCNO - Free Report) by 24.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 831,672 shares of the company's stock after purchasing an additional 164,672 shares during the quarter. nCino comprises approximately 9.4% of Lead Edge Capital Management LLC's investment portfolio, making the stock its 5th biggest holding. Lead Edge Capital Management LLC owned about 0.72% of nCino worth $27,928,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Fifth Third Bancorp purchased a new stake in nCino during the 4th quarter worth approximately $34,000. Hilltop National Bank acquired a new stake in shares of nCino during the fourth quarter worth $37,000. Asset Management One Co. Ltd. grew its holdings in shares of nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after buying an additional 323 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock valued at $152,000 after acquiring an additional 1,122 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of nCino in the 3rd quarter valued at $189,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on NCNO shares. The Goldman Sachs Group downgraded nCino from a "buy" rating to a "neutral" rating and dropped their price target for the company from $42.00 to $24.00 in a research note on Wednesday, April 2nd. UBS Group set a $40.00 target price on nCino in a report on Friday, March 28th. Bank of America increased their price target on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, April 10th. Raymond James decreased their price objective on shares of nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Finally, Needham & Company LLC reduced their target price on shares of nCino from $45.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $30.60.

nCino Stock Performance

Shares of NCNO stock opened at $23.28 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 12-month low of $18.75 and a 12-month high of $43.20. The business's 50 day moving average is $27.75 and its two-hundred day moving average is $33.27. The company has a market capitalization of $2.71 billion, a P/E ratio of -136.93, a P/E/G ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The business's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 earnings per share. Analysts expect that nCino, Inc. will post 0.12 EPS for the current fiscal year.

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

Insider Activity

In other nCino news, CEO Sean Desmond sold 2,301 shares of the firm'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 $51,335.31. Following the transaction, the chief executive officer now directly owns 296,296 shares of the company's stock, valued at $6,610,363.76. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gregory Orenstein sold 5,148 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $167,824.80. Following the transaction, the chief financial officer now owns 271,744 shares in the company, valued at approximately $8,858,854.40. This represents 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 110,012 shares of company stock worth $2,694,676 over the last quarter. 28.40% of the stock is currently owned by corporate insiders.

nCino 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.

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