Crestline Management LP Decreases Stock Position in nCino, Inc. (NASDAQ:NCNO)

Crestline Management LP decreased its position in nCino, Inc. (NASDAQ:NCNO - Free Report) by 70.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,200 shares of the company's stock after selling 17,242 shares during the quarter. Crestline Management LP's holdings in nCino were worth $242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wasatch Advisors LP grew its position in nCino by 171.9% during the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock worth $207,450,000 after buying an additional 3,905,802 shares in the last quarter. Invesco Ltd. grew its position in nCino by 3,006.0% during the fourth quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock worth $87,392,000 after buying an additional 2,518,707 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in nCino during the fourth quarter worth approximately $81,254,000. Conestoga Capital Advisors LLC acquired a new stake in nCino during the fourth quarter worth approximately $70,256,000. Finally, T. Rowe Price Investment Management Inc. grew its position in nCino by 139.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock worth $108,834,000 after buying an additional 1,889,283 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Buying and Selling

In other news, Director Pierre Naude sold 31,123 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the completion of the sale, the director now directly owns 1,066,090 shares in the company, valued at $22,238,637.40. This trade represents a 2.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Gregory Orenstein sold 12,101 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $252,426.86. Following the completion of the sale, the chief financial officer now owns 259,643 shares of the company's stock, valued at approximately $5,416,152.98. This represents a 4.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 141,060 shares of company stock valued at $3,101,115 in the last three months. Insiders own 28.40% of the company's stock.

nCino Price Performance

Shares of NCNO traded up $0.12 during trading hours on Friday, reaching $24.60. The stock had a trading volume of 1,371,975 shares, compared to its average volume of 1,456,855. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The stock has a market capitalization of $2.83 billion, a PE ratio of -144.70, a PEG ratio of 5.77 and a beta of 0.71. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company's 50-day moving average is $24.89 and its two-hundred day moving average is $31.73.

nCino (NASDAQ:NCNO - Get Free Report) last announced 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). The firm had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm's revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. Research analysts expect that nCino, Inc. will post 0.12 EPS for the current year.

nCino declared that its board has approved a stock buyback program on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Raymond James reduced their price target on nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Bank of America increased their price target on nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, April 10th. Needham & Company LLC reduced their target price on nCino from $45.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Piper Sandler reduced their target price on nCino from $28.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Finally, Stephens reaffirmed an "equal weight" rating and issued a $38.00 target price on shares of nCino in a report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $30.40.

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.