Centiva Capital LP Boosts Holdings in nCino, Inc. (NASDAQ:NCNO)

Centiva Capital LP increased its holdings in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 233.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,653 shares of the company's stock after purchasing an additional 21,472 shares during the period. Centiva Capital LP's holdings in nCino were worth $1,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NCNO. Bamco Inc. NY boosted its holdings in shares of nCino by 12.3% in the fourth quarter. Bamco Inc. NY now owns 1,684,834 shares of the company's stock valued at $56,577,000 after buying an additional 185,194 shares during the period. BNP Paribas Financial Markets bought a new position in nCino during the 4th quarter worth about $153,000. Ameriprise Financial Inc. raised its stake in shares of nCino by 140.5% in the 4th quarter. Ameriprise Financial Inc. now owns 2,900,467 shares of the company's stock valued at $97,398,000 after purchasing an additional 1,694,218 shares during the period. Comerica Bank lifted its holdings in shares of nCino by 14,357.6% in the fourth quarter. Comerica Bank now owns 156,720 shares of the company's stock valued at $5,263,000 after purchasing an additional 155,636 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of nCino by 14.1% during the fourth quarter. Northern Trust Corp now owns 612,902 shares of the company's stock worth $20,581,000 after buying an additional 75,592 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on NCNO. Truist Financial cut nCino from a "buy" rating to a "hold" rating and cut their target price for the company from $44.00 to $21.00 in a research note on Wednesday, April 2nd. Stephens reissued an "equal weight" rating and issued a $38.00 price objective on shares of nCino in a research report on Wednesday, April 2nd. UBS Group set a $40.00 target price on shares of nCino in a research report on Friday, March 28th. Bank of America boosted their price target on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, April 10th. Finally, Needham & Company LLC decreased their price objective on nCino from $45.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $30.40.

Insiders Place Their Bets

In related news, VP Jeanette Sellers sold 2,501 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $21.51, for a total transaction of $53,796.51. Following the transaction, the vice president now directly owns 19,099 shares of the company's stock, valued at approximately $410,819.49. This trade represents a 11.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean Desmond sold 7,880 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $164,376.80. Following the completion of the sale, the chief executive officer now directly owns 298,597 shares of the company's stock, valued at $6,228,733.42. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,060 shares of company stock worth $3,101,115 in the last 90 days. Company insiders own 28.40% of the company's stock.

nCino Stock Performance

NCNO stock traded up $0.16 during midday trading on Friday, reaching $23.93. 2,206,382 shares of the company were exchanged, compared to its average volume of 1,436,864. The business has a 50-day moving average price of $25.42 and a two-hundred day moving average price of $32.21. 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 has a market capitalization of $2.76 billion, a price-to-earnings ratio of -140.76, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly 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 negative net margin of 3.46% and a positive return on equity of 1.62%. 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 prior year, the company earned $0.21 earnings per share. The firm's revenue was up 14.3% compared to the same quarter last year. Equities research analysts forecast that nCino, Inc. will post 0.12 EPS for the current year.

nCino declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors 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.