Barclays PLC Boosts Holdings in nCino, Inc. (NASDAQ:NCNO)

Barclays PLC lifted its holdings in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 363.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 338,088 shares of the company's stock after acquiring an additional 265,074 shares during the quarter. Barclays PLC owned 0.29% of nCino worth $11,352,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Fifth Third Bancorp purchased a new stake in shares of nCino during the 4th quarter valued at $34,000. Hilltop National Bank purchased a new stake in nCino during the fourth quarter worth about $37,000. Asset Management One Co. Ltd. raised its position in nCino by 16.5% in 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. boosted its stake in nCino by 32.9% in the fourth 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 during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in nCino in the third quarter valued at about $189,000. 94.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at nCino

In other nCino news, CFO Gregory Orenstein sold 5,148 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $167,824.80. Following the completion of the sale, the chief financial officer now owns 271,744 shares in the company, valued at approximately $8,858,854.40. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Pierre Naude sold 17,026 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 $555,047.60. Following the completion of the sale, the director now directly owns 1,097,213 shares in the company, valued at approximately $35,769,143.80. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,012 shares of company stock worth $2,694,676 over the last ninety days. Insiders own 28.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on NCNO. Bank of America lifted their price target on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, April 10th. Keefe, Bruyette & Woods cut their price target on nCino from $40.00 to $28.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Needham & Company LLC lowered their price objective on nCino from $45.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Truist Financial downgraded shares of nCino from a "buy" rating to a "hold" rating and dropped their price objective for the company from $44.00 to $21.00 in a report on Wednesday, April 2nd. Finally, Piper Sandler reduced their target price on shares of nCino from $28.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, nCino presently has a consensus rating of "Hold" and an average target price of $30.40.

nCino Price Performance

NASDAQ:NCNO traded down $0.14 during trading hours on Friday, hitting $23.04. 1,925,572 shares of the company's stock traded hands, compared to its average volume of 1,397,103. The firm has a market cap of $2.68 billion, a P/E ratio of -135.52, a P/E/G ratio of 5.77 and a beta of 0.69. 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 business's fifty day simple moving average is $27.10 and its two-hundred day simple moving average is $33.09. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly 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 the consensus estimate of $140.81 million. During the same period in the previous year, the company earned $0.21 EPS. nCino's quarterly revenue was up 14.3% on a year-over-year basis. On average, research analysts anticipate 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 stock repurchase plan on Tuesday, April 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.