Motley Fool Asset Management LLC Purchases 5,480 Shares of nCino, Inc. (NASDAQ:NCNO)

Motley Fool Asset Management LLC grew its position in nCino, Inc. (NASDAQ:NCNO) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,120 shares of the company’s stock after purchasing an additional 5,480 shares during the period. Motley Fool Asset Management LLC’s holdings in nCino were worth $1,952,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of NCNO. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 948,282 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of nCino in the fourth quarter worth $81,254,000. Conestoga Capital Advisors LLC acquired a new position in nCino during the fourth quarter worth $70,256,000. Geode Capital Management LLC boosted its holdings in nCino by 1.6% during the fourth 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 last quarter. Finally, State Street Corp grew its position in nCino by 13.8% in the third quarter. State Street Corp now owns 1,474,208 shares of the company’s stock valued at $46,570,000 after purchasing an additional 178,641 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NCNO. William Blair downgraded shares of nCino from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Scotiabank reissued a “sector perform” rating and set a $19.00 price target (down from $35.00) on shares of nCino in a research report on Wednesday. Raymond James dropped their price objective on nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday. KeyCorp reissued a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Finally, Piper Sandler lowered their target price on shares of nCino from $38.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, nCino presently has an average rating of “Hold” and an average price target of $30.33.

nCino Price Performance

nCino stock opened at $21.71 on Friday. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -127.70, a PEG ratio of 5.77 and a beta of 0.69. 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 stock’s 50 day moving average is $30.80 and its 200-day moving average is $34.03.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data 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 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%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. Equities research analysts expect that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at nCino

In other nCino news, 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 transaction of $167,824.80. Following the transaction, the chief financial officer now owns 271,744 shares in the company, valued at $8,858,854.40. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff Horing sold 54,876 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.00, for a total value of $1,920,660.00. Following the sale, the director now directly owns 4,458,591 shares in the company, valued at approximately $156,050,685. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,877 shares of company stock valued at $2,963,893 in the last quarter. Company insiders own 28.40% of the company’s stock.

About nCino

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.