Tensile Capital Management LP Raises Holdings in nCino, Inc. (NASDAQ:NCNO)

Tensile Capital Management LP raised its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,428,734 shares of the company's stock after buying an additional 160,000 shares during the period. nCino makes up 5.0% of Tensile Capital Management LP's portfolio, making the stock its 8th biggest position. Tensile Capital Management LP owned about 1.23% of nCino worth $47,977,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Asset Management One Co. Ltd. increased its stake in nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after buying an additional 323 shares during the period. Victory Capital Management Inc. increased its stake in nCino by 2.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock valued at $407,000 after buying an additional 340 shares during the period. Berry Wealth Group LP lifted its holdings in shares of nCino by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock valued at $276,000 after buying an additional 400 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of nCino by 2.2% in the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock valued at $772,000 after buying an additional 500 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings 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 buying an additional 583 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Price Performance

nCino stock traded down $0.33 during trading hours on Wednesday, hitting $25.48. 2,621,208 shares of the stock were exchanged, compared to its average volume of 1,475,159. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.94 billion, a P/E ratio of -149.87, a P/E/G ratio of 5.77 and a beta of 0.71. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The business's 50-day moving average is $24.77 and its two-hundred day moving average is $31.56.

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

nCino announced that its board has approved a share buyback plan on Tuesday, April 1st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity at nCino

In related news, VP Jeanette Sellers sold 2,167 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $617,791.32. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sean Desmond sold 7,880 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,376.80. Following the sale, the chief executive officer now directly owns 298,597 shares of the company's stock, valued at approximately $6,228,733.42. This trade represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 141,060 shares of company stock valued at $3,101,115 over the last ninety days. 28.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on NCNO. UBS Group set a $40.00 price target on shares of nCino in a research report on Friday, March 28th. Barclays lowered 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. Stephens raised their target price on nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Wednesday. The Goldman Sachs Group lowered nCino from a "buy" rating to a "neutral" rating and cut their target price for the company from $42.00 to $24.00 in a report on Wednesday, April 2nd. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a research report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, nCino has a consensus rating of "Hold" and an average target price of $30.20.

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.