nCino, Inc. (NASDAQ:NCNO) Shares Sold by Senator Investment Group LP

Senator Investment Group LP reduced its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 18.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,276,686 shares of the company’s stock after selling 294,994 shares during the quarter. Senator Investment Group LP’s holdings in nCino were worth $42,871,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp acquired a new position in nCino in the fourth quarter valued at about $34,000. Hilltop National Bank acquired a new position in nCino in the fourth quarter valued at about $37,000. Asset Management One Co. Ltd. raised its holdings in shares of nCino by 16.5% during the fourth 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 during the period. PNC Financial Services Group Inc. lifted its stake in nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of nCino during the 3rd quarter worth about $189,000. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

NCNO has been the topic of several research analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, April 3rd. Raymond James lowered their price target on nCino from $42.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Truist Financial downgraded nCino from a “buy” rating to a “hold” rating and cut their price objective for the company from $44.00 to $21.00 in a report on Wednesday, April 2nd. UBS Group set a $40.00 price target on shares of nCino in a research note on Friday, March 28th. Finally, Stephens restated an “equal weight” rating and issued a $38.00 target price on shares of nCino in a report on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.60.

Insiders Place Their Bets

In other nCino news, Director Pierre Naude sold 17,026 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $555,047.60. Following the transaction, the director now directly owns 1,097,213 shares of the company’s stock, valued at $35,769,143.80. This trade represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider April Rieger sold 7,881 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,397.66. Following the sale, the insider now directly owns 138,072 shares of the company’s stock, valued at $2,880,181.92. The trade was a 5.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,012 shares of company stock worth $2,694,676. 28.40% of the stock is owned by corporate insiders.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $23.95 on Monday. The company has a market capitalization of $2.79 billion, a P/E ratio of -140.87, a P/E/G ratio of 5.77 and a beta of 0.69. 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’s 50 day simple moving average is $28.19 and its two-hundred day simple moving average is $33.39. nCino, Inc. has a 1-year low of $18.75 and a 1-year high of $43.20.

nCino (NASDAQ:NCNO) last announced its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The company had revenue of $141.37 million during the quarter, compared to analysts’ expectations of $140.81 million. During the same quarter last year, the firm posted $0.21 EPS. nCino’s revenue for the quarter was up 14.3% compared to the same quarter last year. Research analysts expect that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino declared that its board has approved 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 usually a sign that the company’s leadership believes its shares are 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.