Dimensional Fund Advisors LP Boosts Stock Position in nCino, Inc. (NASDAQ:NCNO)

Dimensional Fund Advisors LP boosted its holdings in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,606,549 shares of the company's stock after acquiring an additional 99,502 shares during the quarter. Dimensional Fund Advisors LP owned 1.39% of nCino worth $53,948,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NCNO. Barclays PLC grew its stake in nCino by 22.2% in the third quarter. Barclays PLC now owns 73,014 shares of the company's stock worth $2,306,000 after purchasing an additional 13,252 shares in the last quarter. Synovus Financial Corp purchased a new stake in shares of nCino in the 3rd quarter worth $656,000. Franklin Resources Inc. grew its position in shares of nCino by 46.0% during the 3rd 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 in the last quarter. Kings Path Partners LLC purchased a new position in shares of nCino during the fourth quarter valued at $336,000. Finally, Hilltop National Bank bought a new stake in shares of nCino in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on NCNO shares. Needham & Company LLC cut their target price on shares of nCino from $45.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. William Blair downgraded shares of nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Barclays dropped their target price on nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. UBS Group set a $40.00 price target on nCino in a research report on Friday, March 28th. Finally, Morgan Stanley dropped their price objective on nCino from $39.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, nCino has a consensus rating of "Hold" and a consensus price target of $30.40.

Insider Activity at nCino

In other nCino news, insider April Rieger sold 6,589 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $151,547.00. Following the transaction, the insider now directly owns 243,551 shares of the company's stock, valued at $5,601,673. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jeanette Sellers sold 2,167 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $22.79, for a total transaction of $49,385.93. Following the transaction, the vice president now owns 27,108 shares of the company's stock, valued at approximately $617,791.32. This trade represents a 7.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,060 shares of company stock worth $3,101,115 over the last three months. Company insiders own 28.40% of the company's stock.

nCino Stock Performance

nCino stock traded down $0.10 during mid-day trading on Tuesday, reaching $22.15. 1,375,751 shares of the company traded hands, compared to its average volume of 1,409,929. The firm's fifty day moving average is $26.02 and its two-hundred day moving average is $32.57. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -130.29, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95.

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 firm had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same period in the prior year, the firm posted $0.21 EPS. The business's revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts expect that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino declared that its board has authorized a stock buyback program on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is 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.