26,750 Shares in nCino Inc. (NASDAQ:NCNO) Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS acquired a new position in nCino Inc. (NASDAQ:NCNO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 26,750 shares of the company's stock, valued at approximately $735,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NCNO. Johnson Financial Group Inc. purchased a new stake in shares of nCino during the fourth quarter worth about $57,000. First Horizon Advisors Inc. raised its holdings in nCino by 22.5% during the first quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock worth $80,000 after purchasing an additional 538 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of nCino in the first quarter worth $82,000. Asset Management One Co. Ltd. boosted its position 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 buying an additional 1,439 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in nCino by 32.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock valued at $152,000 after purchasing an additional 1,122 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NCNO has been the subject of a number of research analyst reports. Citigroup reiterated an "outperform" rating on shares of nCino in a research note on Monday, June 9th. Stephens lifted their target price on shares of nCino from $24.00 to $28.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 21st. Piper Sandler reissued a "neutral" rating and issued a $28.00 price target (up previously from $25.00) on shares of nCino in a report on Thursday, May 29th. Needham & Company LLC restated a "buy" rating and set a $33.00 price objective on shares of nCino in a research note on Thursday, May 29th. Finally, William Blair cut shares of nCino from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, nCino has an average rating of "Moderate Buy" and a consensus price target of $30.69.

Insiders Place Their Bets

In other nCino news, CEO Sean Desmond sold 12,339 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 $283,797.00. Following the transaction, the chief executive officer directly owned 637,405 shares of the company's stock, valued at $14,660,315. This trade represents a 1.90% 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, insider April Rieger sold 6,589 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $23.00, for a total transaction of $151,547.00. Following the sale, the insider owned 243,551 shares of the company's stock, valued at approximately $5,601,673. The trade was a 2.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,049 shares of company stock valued at $1,449,672. Insiders own 5.70% of the company's stock.

nCino Price Performance

NCNO stock traded down $0.08 during trading on Friday, hitting $30.61. The company had a trading volume of 1,021,905 shares, compared to its average volume of 1,567,835. The company has a fifty day moving average price of $27.20 and a two-hundred day moving average price of $28.33. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24. nCino Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a market cap of $3.55 billion, a P/E ratio of -117.73, a P/E/G ratio of 31.46 and a beta of 0.77.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. The business had revenue of $144.14 million for the quarter, compared to the consensus estimate of $139.77 million. nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. Equities research analysts expect 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 outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board 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.