nCino, Inc. (NASDAQ:NCNO) Holdings Reduced by ShawSpring Partners LLC

ShawSpring Partners LLC lowered its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,628,856 shares of the company’s stock after selling 24,831 shares during the period. nCino accounts for about 11.7% of ShawSpring Partners LLC’s investment portfolio, making the stock its 4th largest position. ShawSpring Partners LLC owned about 2.27% of nCino worth $88,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wasatch Advisors LP lifted its stake in shares of nCino by 171.9% in the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock valued at $207,450,000 after purchasing an additional 3,905,802 shares during the last quarter. Barclays PLC increased its position in nCino by 363.0% during the fourth quarter. Barclays PLC now owns 338,088 shares of the company’s stock valued at $11,352,000 after acquiring an additional 265,074 shares during the last quarter. Advisors Capital Management LLC raised its stake in shares of nCino by 8.5% in the fourth quarter. Advisors Capital Management LLC now owns 65,791 shares of the company’s stock valued at $2,209,000 after acquiring an additional 5,152 shares during the period. 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 worth $1,644,000 after purchasing an additional 583 shares during the period. Finally, Kennedy Capital Management LLC grew its holdings in nCino by 14.3% during the 4th quarter. Kennedy Capital Management LLC now owns 348,533 shares of the company’s stock valued at $11,704,000 after purchasing an additional 43,582 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Trading Up 1.5 %

NASDAQ:NCNO opened at $24.02 on Wednesday. The firm has a 50 day moving average of $28.73 and a 200 day moving average of $33.53. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -141.29, a PEG ratio of 5.77 and a beta of 0.69.

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 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 business had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. During the same period in the previous year, the business earned $0.21 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino declared that its board has initiated a share 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 management believes its stock is undervalued.

Insider Activity

In related news, VP Jeanette Sellers sold 2,501 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $21.51, for a total value of $53,796.51. Following the transaction, the vice president now directly owns 19,099 shares of the company’s stock, valued at $410,819.49. This represents a 11.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider April Rieger sold 4,325 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 $140,995.00. Following the completion of the transaction, the insider now owns 145,953 shares of the company’s stock, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,012 shares of company stock worth $2,694,676 over the last 90 days. 28.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NCNO. William Blair lowered nCino from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. UBS Group set a $40.00 target price on nCino in a research report on Friday, March 28th. Raymond James reduced their price target on shares of nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of nCino from $40.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, April 3rd. Finally, Morgan Stanley reduced their target price on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, nCino currently has a consensus rating of “Hold” and a consensus target price of $30.60.

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.