Long Path Partners LP Has $109.78 Million Position in nCino, Inc. (NASDAQ:NCNO)

Long Path Partners LP decreased its position in nCino, Inc. (NASDAQ:NCNO - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,269,192 shares of the company's stock after selling 452,214 shares during the quarter. nCino accounts for approximately 35.6% of Long Path Partners LP's holdings, making the stock its largest position. Long Path Partners LP owned 2.82% of nCino worth $109,779,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NCNO. Massachusetts Financial Services Co. MA acquired a new position in shares of nCino in the 4th quarter valued at about $81,254,000. Trexquant Investment LP grew its holdings in shares of nCino by 63.0% during the fourth quarter. Trexquant Investment LP now owns 103,907 shares of the company's stock valued at $3,489,000 after purchasing an additional 40,153 shares during the last quarter. Geode Capital Management LLC raised its position in shares of nCino by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,541,143 shares of the company's stock worth $51,769,000 after purchasing an additional 23,631 shares during the period. Franklin Resources Inc. lifted its holdings in shares of nCino by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 1,104,863 shares of the company's stock worth $37,101,000 after purchasing an additional 12,001 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in nCino during the 4th quarter valued at approximately $1,098,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NCNO. William Blair lowered nCino from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Barclays reduced their target price on shares of nCino from $44.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. The Goldman Sachs Group lowered shares of 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. Bank of America lowered nCino from a "buy" rating to a "neutral" rating and set a $22.00 price objective for the company. in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their target price on nCino from $40.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $30.33.

Insiders Place Their Bets

In other news, Director Pierre Naude sold 31,123 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the completion of the sale, the director now owns 1,066,090 shares in the company, valued at $22,238,637.40. This represents a 2.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gregory Orenstein sold 5,148 shares of the firm's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 271,744 shares of the company's stock, valued at approximately $8,858,854.40. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,988 shares of company stock worth $2,294,561. Company insiders own 28.40% of the company's stock.

nCino Price Performance

Shares of NCNO traded up $0.23 during mid-day trading on Tuesday, hitting $21.95. The company's stock had a trading volume of 1,122,151 shares, compared to its average volume of 1,325,730. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a 50-day moving average price of $30.34 and a 200 day moving average price of $33.97. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -129.44, a PEG ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. nCino's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. On average, research analysts predict 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 repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is 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.