Capital Research Global Investors Purchases New Position in nCino, Inc. (NASDAQ:NCNO)

Capital Research Global Investors purchased a new position in nCino, Inc. (NASDAQ:NCNO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 693,096 shares of the company's stock, valued at approximately $23,274,000. Capital Research Global Investors owned approximately 0.60% of nCino at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NCNO. Barclays PLC increased its stake in shares of nCino by 22.2% in the 3rd quarter. Barclays PLC now owns 73,014 shares of the company's stock worth $2,306,000 after acquiring an additional 13,252 shares in the last quarter. Geode Capital Management LLC raised its holdings in nCino by 26.1% in the third quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company's stock worth $47,951,000 after buying an additional 313,637 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in nCino in the third quarter worth about $189,000. Synovus Financial Corp purchased a new position in nCino in the third quarter worth about $656,000. Finally, Franklin Resources Inc. raised its holdings in nCino by 46.0% in the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company's stock worth $38,327,000 after buying an additional 344,269 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other nCino news, CFO Gregory Orenstein sold 2,356 shares of the stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total transaction of $52,562.36. Following the completion of the transaction, the chief financial officer now owns 329,735 shares of the company's stock, valued at $7,356,387.85. This represents a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider April Rieger sold 4,325 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the transaction, the insider now directly 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. In the last quarter, insiders sold 110,012 shares of company stock worth $2,694,676. Corporate insiders own 28.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on NCNO shares. KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. William Blair cut shares of nCino from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Raymond James decreased their target price on shares of nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a report 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 for the company in a report on Wednesday. Finally, The Goldman Sachs Group cut shares of nCino from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $42.00 to $24.00 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $30.40.

nCino Price Performance

Shares of NCNO traded down $0.14 during mid-day trading on Friday, reaching $23.04. The stock had a trading volume of 1,925,572 shares, compared to its average volume of 1,399,163. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -135.52, a PEG ratio of 5.77 and a beta of 0.69. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The business has a fifty day moving average of $27.10 and a 200 day moving average of $33.10. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. During the same period in the prior year, the company posted $0.21 EPS. The company's quarterly revenue was up 14.3% on a year-over-year basis. Equities analysts predict that nCino, Inc. will post 0.12 EPS for the current year.

nCino declared that its board has approved a stock repurchase plan on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership 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.