Sone Capital Management LLC Makes New Investment in nCino, Inc. (NASDAQ:NCNO)

Sone Capital Management LLC acquired a new position in nCino, Inc. (NASDAQ:NCNO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 93,806 shares of the company's stock, valued at approximately $3,150,000. Sone Capital Management LLC owned about 0.08% of nCino at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Conestoga Capital Advisors LLC acquired a new stake in shares of nCino in the fourth quarter worth $70,256,000. Amundi boosted its stake in nCino by 312.1% during the fourth quarter. Amundi now owns 6,004 shares of the company's stock worth $201,000 after buying an additional 4,547 shares in the last quarter. Barclays PLC boosted its stake in nCino by 22.2% during the third quarter. Barclays PLC now owns 73,014 shares of the company's stock worth $2,306,000 after buying an additional 13,252 shares in the last quarter. KBC Group NV boosted its stake in nCino by 3,082.1% during the fourth quarter. KBC Group NV now owns 75,988 shares of the company's stock worth $2,552,000 after buying an additional 73,600 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in 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 in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Transactions at nCino

In related news, CFO Gregory Orenstein sold 12,101 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $252,426.86. Following the completion of the transaction, the chief financial officer now directly owns 259,643 shares in the company, valued at approximately $5,416,152.98. The trade was a 4.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider April Rieger sold 6,589 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $151,547.00. Following the completion of the transaction, the insider now owns 243,551 shares of the company's stock, valued at $5,601,673. This represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,060 shares of company stock worth $3,101,115. 5.70% of the stock is currently owned by company insiders.

nCino Trading Down 1.5%

NASDAQ:NCNO traded down $0.40 on Friday, hitting $26.26. 2,955,053 shares of the stock were exchanged, compared to its average volume of 1,491,843. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -154.46, a P/E/G ratio of 5.77 and a beta of 0.71. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The company's 50-day moving average price is $24.63 and its 200 day moving average price is $31.37. 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 posted its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). The company had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. nCino's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. On average, equities research analysts forecast that nCino, Inc. will post 0.12 earnings per share for the current year.

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

Wall Street Analyst Weigh In

NCNO has been the topic of a number of recent research reports. Needham & Company LLC lifted their price target on shares of nCino from $28.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group set a $40.00 price target on shares of nCino in a research note on Friday, March 28th. 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 research note on Thursday, April 10th. Stephens lifted their price target on shares of nCino from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Piper Sandler decreased their price target on shares of nCino from $28.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.80.

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.