nCino Inc. (NASDAQ:NCNO) Stock Position Decreased by KBC Group NV

KBC Group NV decreased its stake in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 94.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NCNO. Amundi boosted its holdings in nCino by 312.1% in the fourth quarter. Amundi now owns 6,004 shares of the company's stock valued at $201,000 after acquiring an additional 4,547 shares during the last quarter. Northern Trust Corp raised its holdings in shares of nCino by 14.1% in the 4th quarter. Northern Trust Corp now owns 612,902 shares of the company's stock worth $20,581,000 after purchasing an additional 75,592 shares during the period. Charles Schwab Investment Management Inc. raised its position in nCino by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 566,627 shares of the company's stock valued at $19,027,000 after purchasing an additional 9,870 shares during the period. Picton Mahoney Asset Management boosted its holdings in nCino by 94.5% in the 4th quarter. Picton Mahoney Asset Management now owns 390,752 shares of the company's stock worth $13,122,000 after acquiring an additional 189,827 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in nCino in the fourth quarter valued at approximately $311,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial upped their price objective on shares of nCino from $21.00 to $27.00 and gave the company a "hold" rating in a research report on Thursday, May 29th. UBS Group set a $28.00 price objective on nCino in a research note on Thursday, May 29th. Piper Sandler reaffirmed a "neutral" rating and issued a $28.00 price target (up from $25.00) on shares of nCino in a report on Thursday, May 29th. Morgan Stanley boosted their target price on shares of nCino from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Finally, Bank of America increased their price target on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, April 10th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $30.94.

Insiders Place Their Bets

In other news, CEO Sean Desmond sold 12,339 shares of the stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gregory Orenstein sold 10,343 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $237,889.00. Following the transaction, the chief financial officer directly owned 470,254 shares in the company, valued at $10,815,842. The trade was a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,049 shares of company stock worth $1,449,672 in the last quarter. Corporate insiders own 5.70% of the company's stock.

nCino Price Performance

NCNO stock traded down $0.04 during trading hours on Friday, hitting $28.82. 1,379,893 shares of the stock traded hands, compared to its average volume of 1,569,707. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $26.38 and a 200 day simple moving average of $28.57. nCino Inc. has a one year low of $18.75 and a one year high of $43.20. The company has a market cap of $3.34 billion, a P/E ratio of -110.85, a P/E/G ratio of 30.07 and a beta of 0.77.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. nCino had a negative net margin of 5.27% and a positive return on equity of 0.19%. The firm had revenue of $144.14 million during the quarter, compared to analysts' expectations of $139.77 million. During the same period last year, the firm posted $0.19 earnings per share. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts forecast that nCino Inc. will post 0.12 earnings per share for the current year.

nCino announced that its board has initiated a share repurchase program on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership 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.