93,806 Shares in nCino, Inc. (NASDAQ:NCNO) Acquired by Sone Capital Management LLC

Sone Capital Management LLC acquired a new position in shares of nCino, Inc. (NASDAQ:NCNO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 93,806 shares of the company’s stock, valued at approximately $3,150,000. Sone Capital Management LLC owned approximately 0.08% of nCino as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in NCNO. Asset Management One Co. Ltd. lifted its stake in nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after acquiring an additional 323 shares in the last quarter. Victory Capital Management Inc. grew its position in nCino by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock valued at $407,000 after purchasing an additional 340 shares in the last quarter. Berry Wealth Group LP increased its stake in nCino by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock valued at $276,000 after buying an additional 400 shares during the period. Handelsbanken Fonder AB lifted its position in nCino by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock worth $772,000 after buying an additional 500 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in shares of nCino by 1.2% during the 4th quarter. Sterling Capital Management LLC now owns 48,945 shares of the company’s stock valued at $1,644,000 after buying an additional 583 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Stock Up 0.5%

Shares of NASDAQ NCNO opened at $24.60 on Monday. nCino, Inc. has a 52-week low of $18.75 and a 52-week high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The business has a fifty day moving average of $24.89 and a two-hundred day moving average of $31.69. The stock has a market cap of $2.83 billion, a PE ratio of -144.70, a PEG ratio of 5.77 and a beta of 0.71.

nCino (NASDAQ:NCNO) last released its quarterly 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 negative net margin of 3.46% and a positive return on equity of 1.62%. nCino’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. As a group, equities research analysts expect that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino declared that its Board of Directors has authorized a stock repurchase program on Tuesday, April 1st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at nCino

In related news, Director Pierre Naude sold 31,123 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $649,225.78. Following the completion of the sale, the director now directly owns 1,066,090 shares of the company’s stock, valued at approximately $22,238,637.40. This represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider April Rieger sold 6,589 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $151,547.00. Following the completion of the transaction, the insider now owns 243,551 shares of the company’s stock, valued at $5,601,673. This trade represents a 2.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,060 shares of company stock worth $3,101,115. 28.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Scotiabank reaffirmed a “sector perform” rating and set a $19.00 price objective (down previously from $35.00) on shares of nCino in a research report on Wednesday, April 2nd. William Blair downgraded shares of nCino from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Stephens restated an “equal weight” rating and set a $38.00 target price on shares of nCino in a report on Wednesday, April 2nd. The Goldman Sachs Group downgraded nCino from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $24.00 in a research note on Wednesday, April 2nd. Finally, Morgan Stanley lowered their price objective on nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, nCino currently has an average rating of “Hold” and an average target price of $30.40.

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.