Nuveen Asset Management LLC Sells 22,089 Shares of nCino, Inc. (NASDAQ:NCNO)

Nuveen Asset Management LLC reduced its position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 8.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 236,555 shares of the company's stock after selling 22,089 shares during the period. Nuveen Asset Management LLC owned about 0.20% of nCino worth $7,944,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in shares of nCino in the fourth quarter worth about $34,000. Johnson Financial Group Inc. bought a new position in shares of nCino in the fourth quarter worth about $57,000. Asset Management One Co. Ltd. raised its stake in shares of nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock worth $78,000 after acquiring an additional 323 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of nCino by 32.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock worth $152,000 after acquiring an additional 1,122 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of nCino in the fourth quarter worth about $153,000. 94.76% of the stock is owned by institutional investors.

nCino Trading Down 1.3%

NASDAQ NCNO traded down $0.34 during trading on Monday, reaching $25.96. 180,294 shares of the stock traded hands, compared to its average volume of 1,510,481. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -152.57, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. The stock's 50-day moving average price is $24.41 and its 200 day moving average price is $30.70. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Analysts predict that nCino, Inc. will post 0.12 EPS for the current year.

nCino declared that its Board of Directors has authorized a share buyback plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at nCino

In other nCino news, VP Jeanette Sellers sold 2,501 shares of nCino stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $21.51, for a total value of $53,796.51. Following the transaction, the vice president now owns 19,099 shares of the company's stock, valued at approximately $410,819.49. The trade was a 11.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gregory Orenstein sold 12,101 shares of nCino stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $252,426.86. Following the completion of the transaction, the chief financial officer now directly owns 259,643 shares in the company, valued at approximately $5,416,152.98. The trade was a 4.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,060 shares of company stock valued at $3,101,115. 5.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on NCNO. Scotiabank reaffirmed a "sector perform" rating and issued a $26.00 target price (up from $19.00) on shares of nCino in a research note on Wednesday, May 21st. Truist Financial boosted their target price on shares of nCino from $21.00 to $27.00 and gave the stock a "hold" rating in a research note on Thursday. The Goldman Sachs Group downgraded shares of nCino from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $42.00 to $24.00 in a research note on Wednesday, April 2nd. Morgan Stanley lifted their price target on shares of nCino from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Stephens lifted their price target on shares of nCino from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, nCino presently has an average rating of "Hold" and a consensus 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.