29,691 Shares in nCino, Inc. (NASDAQ:NCNO) Purchased by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC purchased a new position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,691 shares of the company's stock, valued at approximately $997,000.

Several other large investors have also recently made changes to their positions in the business. Janus Henderson Group PLC raised its stake in shares of nCino by 0.9% during the fourth quarter. Janus Henderson Group PLC now owns 473,659 shares of the company's stock worth $15,906,000 after acquiring an additional 4,418 shares in the last quarter. Gotham Asset Management LLC increased its stake in shares of nCino by 130.6% in the fourth quarter. Gotham Asset Management LLC now owns 57,304 shares of the company's stock worth $1,924,000 after buying an additional 32,456 shares during the period. Deutsche Bank AG increased its stake in shares of nCino by 42.9% in the fourth quarter. Deutsche Bank AG now owns 5,256 shares of the company's stock worth $176,000 after buying an additional 1,577 shares during the period. D. E. Shaw & Co. Inc. purchased a new position in shares of nCino in the fourth quarter worth $231,000. Finally, Daventry Group LP increased its stake in shares of nCino by 19.7% in the fourth quarter. Daventry Group LP now owns 1,027,878 shares of the company's stock worth $34,516,000 after buying an additional 169,146 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NCNO has been the topic of several analyst reports. Scotiabank reaffirmed a "sector perform" rating and issued a $19.00 target price (down from $35.00) on shares of nCino in a research note on Wednesday, April 2nd. Piper Sandler decreased their target price on shares of nCino from $28.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Bank of America lifted their target price 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. Stephens reaffirmed an "equal weight" rating and issued a $38.00 target price on shares of nCino in a research note on Wednesday, April 2nd. Finally, Barclays reduced their price objective on shares of nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $30.40.

Insider Activity

In related news, CEO Sean Desmond sold 12,339 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $283,797.00. Following the transaction, the chief executive officer now owns 637,405 shares in the company, valued at $14,660,315. The trade was a 1.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider April Rieger sold 7,881 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,397.66. Following the completion of the transaction, the insider now owns 138,072 shares in the company, valued at approximately $2,880,181.92. The trade was a 5.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,060 shares of company stock worth $3,101,115. Corporate insiders own 28.40% of the company's stock.

nCino Stock Up 1.8%

Shares of NCNO stock traded up $0.45 during mid-day trading on Tuesday, reaching $25.20. 486,378 shares of the company's stock traded hands, compared to its average volume of 1,456,236. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The company has a market cap of $2.90 billion, a P/E ratio of -148.21, a P/E/G ratio of 5.77 and a beta of 0.71. 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 company's 50-day moving average price is $24.80 and its 200-day moving average price is $31.60.

nCino (NASDAQ:NCNO - Get Free Report) 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 negative net margin of 3.46% and a positive return on equity of 1.62%. The business had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. During the same quarter last year, the firm posted $0.21 EPS. The business's quarterly revenue was up 14.3% on a year-over-year basis. On average, equities 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 initiated a share buyback program on Tuesday, April 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is 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.