KBC Group NV Decreases Position in nCino Inc. (NASDAQ:NCNO)

KBC Group NV decreased its holdings in nCino Inc. (NASDAQ:NCNO - Free Report) by 94.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,012 shares of the company's stock after selling 71,976 shares during the period. KBC Group NV's holdings in nCino were worth $110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of nCino by 2,448.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,246 shares of the company's stock worth $281,000 after purchasing an additional 9,844 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of nCino in the first quarter worth $343,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of nCino by 38.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 485,000 shares of the company's stock worth $13,323,000 after acquiring an additional 135,000 shares during the period. Legacy Advisors LLC grew its holdings in shares of nCino by 64.3% in the first quarter. Legacy Advisors LLC now owns 21,819 shares of the company's stock worth $599,000 after acquiring an additional 8,535 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in shares of nCino by 63.1% in the first quarter. Asset Management One Co. Ltd. now owns 3,718 shares of the company's stock worth $102,000 after acquiring an additional 1,439 shares during the period. Institutional investors own 94.76% of the company's stock.

Insider Buying and Selling

In related news, CFO Gregory Orenstein sold 10,343 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $23.00, for a total value of $237,889.00. Following the sale, the chief financial officer directly owned 470,254 shares in the company, valued at approximately $10,815,842. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sean Desmond sold 12,339 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $23.00, for a total value of $283,797.00. Following the completion of the sale, the chief executive officer owned 637,405 shares in the company, valued at $14,660,315. This represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,049 shares of company stock valued at $1,449,672 in the last ninety days. Company insiders own 5.70% of the company's stock.

nCino Price Performance

Shares of nCino stock traded up $0.74 during trading hours on Tuesday, hitting $29.54. The company's stock had a trading volume of 2,179,316 shares, compared to its average volume of 1,559,723. The business has a 50 day moving average price of $26.01 and a two-hundred day moving average price of $28.60. nCino Inc. has a 12-month low of $18.75 and a 12-month high of $43.20. The company has a market cap of $3.42 billion, a PE ratio of -113.62, a PEG ratio of 29.49 and a beta of 0.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.05.

nCino (NASDAQ:NCNO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The business had revenue of $144.14 million for the quarter, compared to the consensus estimate of $139.77 million. During the same period in the previous year, the business earned $0.19 earnings per share. The business's revenue was up 12.5% on a year-over-year basis. Analysts expect that nCino Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its board has approved a share repurchase program on Tuesday, April 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JMP Securities lifted their price objective on nCino from $32.00 to $35.00 and gave the stock a "market outperform" rating in a report on Monday, June 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $33.00 price objective on shares of nCino in a report on Thursday, May 29th. UBS Group set a $28.00 price objective on nCino in a report on Thursday, May 29th. Truist Financial lifted their price objective on nCino from $21.00 to $27.00 and gave the stock a "hold" rating in a report on Thursday, May 29th. Finally, Bank of America lifted their price objective on nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, April 10th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $30.94.

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.