nCino, Inc. (NASDAQ:NCNO) Shares Purchased by Trexquant Investment LP

Trexquant Investment LP raised its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 63.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,907 shares of the company's stock after acquiring an additional 40,153 shares during the period. Trexquant Investment LP owned approximately 0.09% of nCino worth $3,489,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Conestoga Capital Advisors LLC acquired a new stake in nCino in the 4th quarter valued at approximately $70,256,000. Raymond James Financial Inc. acquired a new stake in shares of nCino in the fourth quarter valued at $39,334,000. Vanguard Group Inc. raised its holdings in shares of nCino by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company's stock valued at $363,697,000 after buying an additional 948,282 shares during the period. Norges Bank purchased a new stake in shares of nCino in the 4th quarter valued at $29,268,000. Finally, Loomis Sayles & Co. L P acquired a new position in nCino during the 4th quarter worth about $18,291,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NCNO shares. The Goldman Sachs Group downgraded nCino from a "buy" rating to a "neutral" rating and dropped their target price for the company from $42.00 to $24.00 in a research report on Wednesday, April 2nd. Raymond James dropped their price objective on shares of nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. William Blair lowered shares of nCino from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. KeyCorp restated a "sector weight" rating on shares of nCino in a research note on Monday, February 3rd. Finally, Stephens reiterated an "equal weight" rating and issued a $38.00 price objective on shares of nCino in a research note on Wednesday, April 2nd. Ten equities research 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 stock has a consensus rating of "Hold" and a consensus price target of $30.60.

nCino Stock Up 2.0 %

NASDAQ:NCNO traded up $0.46 during midday trading on Friday, hitting $23.86. 3,390,327 shares of the company were exchanged, compared to its average volume of 1,365,891. 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 fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a market capitalization of $2.78 billion, a PE ratio of -140.34, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The company has a fifty day simple moving average of $29.08 and a 200 day simple moving average of $33.63.

nCino (NASDAQ:NCNO - Get Free Report) last posted its earnings results 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). The firm had revenue of $141.37 million during 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 firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, equities analysts anticipate 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 stock repurchase plan on Tuesday, April 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often 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 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 completion of the sale, the chief executive officer now directly owns 296,296 shares of the company's stock, valued at approximately $6,610,363.76. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pierre Naude sold 31,123 shares of nCino stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $649,225.78. Following the completion of the transaction, the director now owns 1,066,090 shares in the company, 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. Over the last ninety days, insiders sold 110,012 shares of company stock valued at $2,694,676. 28.40% of the stock is currently owned by company insiders.

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.