Russell Investments Group Ltd. Has $3.54 Million Holdings in nCino, Inc. (NASDAQ:NCNO)

Russell Investments Group Ltd. raised its holdings in nCino, Inc. (NASDAQ:NCNO - Free Report) by 37,664.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,364 shares of the company's stock after acquiring an additional 105,085 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of nCino worth $3,538,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of nCino in the 4th quarter valued at $886,000. Landscape Capital Management L.L.C. acquired a new stake in shares of nCino in the fourth quarter worth about $486,000. Motley Fool Asset Management LLC boosted its stake in shares of nCino by 10.4% during the 4th quarter. Motley Fool Asset Management LLC now owns 58,120 shares of the company's stock worth $1,952,000 after acquiring an additional 5,480 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of nCino during the 4th quarter worth about $81,254,000. Finally, Trexquant Investment LP increased its holdings in shares of nCino by 63.0% during the 4th quarter. Trexquant Investment LP now owns 103,907 shares of the company's stock valued at $3,489,000 after acquiring an additional 40,153 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Insider Transactions at nCino

In other news, CFO Gregory Orenstein sold 2,356 shares of nCino 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 $52,562.36. Following the completion of the transaction, the chief financial officer now owns 329,735 shares in the company, valued at approximately $7,356,387.85. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $51,335.31. Following the sale, the chief executive officer now owns 296,296 shares in the company, valued at approximately $6,610,363.76. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,012 shares of company stock valued at $2,694,676. 28.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut nCino from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $42.00 to $24.00 in a research report on Wednesday, April 2nd. Morgan Stanley lowered their target price on nCino from $39.00 to $23.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 2nd. UBS Group set a $40.00 price target on nCino in a report on Friday, March 28th. Bank of America raised their price objective on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, April 10th. Finally, William Blair cut shares of nCino from an "outperform" rating to a "market perform" rating 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 stock. According to MarketBeat, nCino currently has an average rating of "Hold" and a consensus price target of $30.60.

nCino Price Performance

NCNO traded up $0.10 during midday trading on Tuesday, reaching $23.28. 1,759,659 shares of the company's stock were exchanged, compared to its average volume of 1,381,848. 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 business has a 50-day simple moving average of $27.75 and a two-hundred day simple moving average of $33.27. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -136.93, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last posted its earnings results on Tuesday, April 1st. The company reported $0.12 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 the consensus estimate of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. nCino's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS. As a group, research analysts predict that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 1st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

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.