nCino, Inc. (NASDAQ:NCNO) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its position in nCino, Inc. (NASDAQ:NCNO - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,892,330 shares of the company's stock after selling 512,676 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 5.95% of nCino worth $231,444,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in shares of nCino in the 4th quarter worth about $34,000. Johnson Financial Group Inc. bought a new stake in shares of nCino in the 4th quarter worth approximately $57,000. Asset Management One Co. Ltd. boosted its position in shares of nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock worth $78,000 after purchasing an additional 323 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock worth $152,000 after buying an additional 1,122 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in nCino during the 4th quarter valued at approximately $153,000. Institutional investors own 94.76% of the company's stock.

Insider Buying and Selling

In other nCino news, CFO Gregory Orenstein sold 12,101 shares of nCino stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $252,426.86. Following the completion of the transaction, the chief financial officer now owns 259,643 shares in the company, valued at approximately $5,416,152.98. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sean Desmond sold 7,880 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,376.80. Following the sale, the chief executive officer now directly owns 298,597 shares in the company, valued at approximately $6,228,733.42. The trade was a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,060 shares of company stock worth $3,101,115. 5.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

NCNO has been the topic of a number of recent analyst reports. KeyCorp reiterated a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Piper Sandler restated a "neutral" rating and set a $28.00 target price (up from $25.00) on shares of nCino in a research report on Thursday. Raymond James decreased their price objective on nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. JMP Securities restated a "market outperform" rating and set a $32.00 target price on shares of nCino in a research note on Tuesday. Finally, Truist Financial raised their target price on shares of nCino from $21.00 to $27.00 and gave the company a "hold" rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $31.60.

nCino Stock Performance

Shares of NASDAQ NCNO traded down $0.45 during midday trading on Thursday, reaching $26.33. The company had a trading volume of 3,859,570 shares, compared to its average volume of 1,518,622. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20. The business's 50-day simple moving average is $24.52 and its 200 day simple moving average is $31.06. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock has a market cap of $3.03 billion, a P/E ratio of -154.87, a P/E/G ratio of 5.77 and a beta of 0.71.

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). The firm 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%. The business's revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. On average, analysts forecast that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its board has initiated a share repurchase plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.