nCino Inc. (NASDAQ:NCNO) Shares Acquired by Vanderbilt University

Vanderbilt University boosted its position in nCino Inc. (NASDAQ:NCNO - Free Report) by 69.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 205,332 shares of the company's stock after buying an additional 84,066 shares during the quarter. nCino makes up about 1.1% of Vanderbilt University's investment portfolio, making the stock its 16th biggest holding. Vanderbilt University owned approximately 0.18% of nCino worth $5,640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Asset Management One Co. Ltd. increased its stake in shares of nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after acquiring an additional 323 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of nCino by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock worth $407,000 after buying an additional 340 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in nCino by 2.2% during the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock worth $772,000 after buying an additional 500 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of nCino by 1.2% in the fourth 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. Finally, Treasurer of the State of North Carolina raised its holdings in shares of nCino by 1.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 36,676 shares of the company's stock valued at $1,232,000 after buying an additional 620 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Stock Down 1.3%

NASDAQ:NCNO traded down $0.35 during trading hours on Friday, reaching $26.45. The company's stock had a trading volume of 1,662,450 shares, compared to its average volume of 1,532,124. The company has a market capitalization of $3.07 billion, a P/E ratio of -101.73, a price-to-earnings-growth ratio of 27.54 and a beta of 0.76. nCino Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day moving average price of $25.03 and a two-hundred day moving average price of $29.48.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The company had revenue of $141.37 million during the quarter, compared to analysts' expectations of $140.81 million. During the same quarter in the prior year, the company posted $0.21 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts predict that nCino Inc. will post 0.12 EPS for the current fiscal year.

nCino announced that its board has initiated a stock buyback program on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Needham & Company LLC restated a "buy" rating and issued a $33.00 price target on shares of nCino in a research report on Thursday, May 29th. Piper Sandler restated a "neutral" rating and issued a $28.00 price objective (up previously from $25.00) on shares of nCino in a research note on Thursday, May 29th. JPMorgan Chase & Co. started coverage on nCino in a research report on Wednesday. They set a "neutral" rating and a $30.00 target price for the company. Citigroup reissued an "outperform" rating on shares of nCino in a report on Monday, June 9th. Finally, Truist Financial boosted their price objective on nCino from $21.00 to $27.00 and gave the company a "hold" rating in a research note on Thursday, May 29th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, nCino has a consensus rating of "Hold" and an average target price of $30.94.

Insider Buying and Selling

In related news, CEO Sean Desmond sold 7,880 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $164,376.80. Following the sale, the chief executive officer now owns 298,597 shares of the company's stock, valued at approximately $6,228,733.42. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeanette Sellers sold 2,167 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $22.79, for a total transaction of $49,385.93. Following the completion of the sale, the vice president now directly owns 27,108 shares in the company, valued at approximately $617,791.32. The trade was a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,060 shares of company stock valued at $3,101,115. 5.70% of the stock is currently owned by insiders.

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.