nCino, Inc. (NASDAQ:NCNO) is Tensile Capital Management LP's 8th Largest Position

Tensile Capital Management LP grew its holdings in nCino, Inc. (NASDAQ:NCNO - Free Report) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,428,734 shares of the company's stock after acquiring an additional 160,000 shares during the period. nCino comprises about 5.0% of Tensile Capital Management LP's investment portfolio, making the stock its 8th biggest position. Tensile Capital Management LP owned about 1.23% of nCino worth $47,977,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in nCino by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company's stock worth $363,697,000 after purchasing an additional 948,282 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of nCino by 171.9% in the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock worth $207,450,000 after buying an additional 3,905,802 shares in the last quarter. Capital International Investors lifted its holdings in shares of nCino by 57.4% in the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company's stock worth $157,531,000 after buying an additional 1,710,893 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in nCino by 139.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock valued at $108,834,000 after acquiring an additional 1,889,283 shares in the last quarter. Finally, Soma Equity Partners LP grew its position in shares of nCino by 5.7% during the fourth quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company's stock valued at $97,976,000 after purchasing an additional 156,238 shares in the last quarter. Institutional investors own 94.76% of the company's stock.

Insider Transactions at nCino

In other nCino news, CEO Sean Desmond sold 7,880 shares of nCino stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $164,376.80. Following the transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pierre Naude sold 31,123 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $649,225.78. Following the sale, the director now owns 1,066,090 shares of the company's stock, valued at approximately $22,238,637.40. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,060 shares of company stock valued at $3,101,115 in the last 90 days. Insiders own 28.40% of the company's stock.

nCino Stock Down 0.7%

Shares of NASDAQ:NCNO traded down $0.19 on Friday, reaching $26.47. The company had a trading volume of 946,353 shares, compared to its average volume of 1,482,401. The firm has a market capitalization of $3.05 billion, a PE ratio of -155.78, a PEG ratio of 5.77 and a beta of 0.71. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 52-week low of $18.75 and a 52-week high of $43.20. The firm's 50 day simple moving average is $24.68 and its 200-day simple moving average is $31.45.

nCino (NASDAQ:NCNO - Get Free Report) last posted its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). The company had revenue of $141.37 million during the quarter, compared to analysts' expectations of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. nCino's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. As a group, analysts expect that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its Board of Directors has authorized a share buyback program on Tuesday, April 1st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays dropped their price target on nCino from $44.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Truist Financial downgraded nCino from a "buy" rating to a "hold" rating and lowered their target price for the company from $44.00 to $21.00 in a research report on Wednesday, April 2nd. Scotiabank reissued a "sector perform" rating and issued a $26.00 target price (up from $19.00) on shares of nCino in a report on Wednesday. UBS Group set a $40.00 price target on shares of nCino in a research note on Friday, March 28th. Finally, KeyCorp reiterated a "sector weight" rating on shares of nCino in a research report on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $30.80.

nCino Company 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.