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

Kornitzer Capital Management Inc. KS bought a new stake in nCino Inc. (NASDAQ:NCNO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,750 shares of the company's stock, valued at approximately $735,000.

Several other large investors have also modified their holdings of NCNO. Victory Capital Management Inc. increased its holdings in shares of nCino by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock valued at $407,000 after purchasing an additional 340 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of nCino by 22.5% in the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock valued at $80,000 after purchasing an additional 538 shares in the last quarter. Sterling Capital Management LLC grew its stake in nCino by 1.2% in the 4th quarter. Sterling Capital Management LLC now owns 48,945 shares of the company's stock valued at $1,644,000 after acquiring an additional 583 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in nCino by 1.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 36,676 shares of the company's stock valued at $1,232,000 after acquiring an additional 620 shares during the last quarter. Finally, Xponance Inc. grew its stake in nCino by 7.9% in the 1st quarter. Xponance Inc. now owns 8,954 shares of the company's stock valued at $246,000 after acquiring an additional 656 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Transactions at nCino

In related news, Director Pierre Naude sold 30,745 shares of the firm'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 $707,135.00. Following the transaction, the director owned 1,197,120 shares in the company, valued at approximately $27,533,760. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory Orenstein sold 10,343 shares of the firm'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 transaction of $237,889.00. Following the completion of the transaction, the chief financial officer owned 470,254 shares in the company, valued at $10,815,842. The trade was a 2.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,049 shares of company stock valued at $1,449,672 in the last three months. 5.70% of the stock is owned by company insiders.

nCino Trading Down 0.3%

Shares of NCNO stock traded down $0.08 during trading hours on Friday, hitting $30.61. 1,021,905 shares of the company were exchanged, compared to its average volume of 1,564,279. The firm has a market cap of $3.55 billion, a PE ratio of -117.73, a PEG ratio of 30.87 and a beta of 0.77. nCino Inc. has a 1 year low of $18.75 and a 1 year high of $43.20. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average of $27.07 and a 200 day moving average of $28.39.

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

nCino declared that its board has approved a stock buyback plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NCNO shares. Keefe, Bruyette & Woods increased their price objective on shares of nCino from $28.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. JPMorgan Chase & Co. started coverage on shares of nCino in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $30.00 price objective on the stock. The Goldman Sachs Group cut shares of nCino from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $42.00 to $24.00 in a research note on Wednesday, April 2nd. Needham & Company LLC reissued a "buy" rating and issued a $33.00 price objective on shares of nCino in a research note on Thursday, May 29th. Finally, Citigroup reissued an "outperform" rating on shares of nCino in a research note on Monday, June 9th. Ten research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.69.

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.