Oppenheimer Asset Management Inc. Purchases 10,713 Shares of nCino Inc. (NASDAQ:NCNO)

Oppenheimer Asset Management Inc. lifted its position in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 20.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,217 shares of the company's stock after purchasing an additional 10,713 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.05% of nCino worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in nCino in the fourth quarter worth about $57,000. FNY Investment Advisers LLC bought a new stake in shares of nCino in the 1st quarter valued at approximately $82,000. PNC Financial Services Group Inc. raised its holdings in shares of nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock worth $152,000 after buying an additional 1,122 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of nCino in the 4th quarter worth approximately $153,000. Finally, Deutsche Bank AG lifted its position in shares of nCino by 42.9% during the 4th quarter. Deutsche Bank AG now owns 5,256 shares of the company's stock worth $176,000 after buying an additional 1,577 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NCNO has been the subject of several recent analyst reports. The Goldman Sachs Group lowered nCino from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $42.00 to $24.00 in a research note on Wednesday, April 2nd. Truist Financial upped their target price on shares of nCino from $21.00 to $27.00 and gave the stock a "hold" rating in a report on Thursday, May 29th. Bank of America increased their target price on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, April 10th. Morgan Stanley boosted their price target on shares of nCino from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. began coverage on shares of nCino in a research note on Wednesday, June 18th. They set a "neutral" rating and a $30.00 price objective on the stock. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $30.94.

nCino Trading Down 0.9%

NASDAQ:NCNO traded down $0.25 during trading hours on Tuesday, hitting $27.72. 1,250,318 shares of the stock were exchanged, compared to its average volume of 1,552,138. The company has a market capitalization of $3.21 billion, a P/E ratio of -106.62, a price-to-earnings-growth ratio of 28.74 and a beta of 0.77. 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 company's 50 day moving average is $25.57 and its two-hundred day moving average is $28.83. nCino Inc. has a twelve month low of $18.75 and a twelve month high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last released its earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $144.14 million during the quarter, compared to the consensus estimate of $139.77 million. nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The firm's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, sell-side analysts anticipate that nCino Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its Board of Directors has approved a share repurchase program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at nCino

In related news, CEO Sean Desmond sold 12,339 shares of the business'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 $283,797.00. Following the completion of the sale, the chief executive officer directly owned 637,405 shares of the company's stock, valued at $14,660,315. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Pierre Naude sold 31,123 shares of the firm's 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 $649,225.78. Following the completion of the transaction, the director directly owned 1,066,090 shares in the company, valued at approximately $22,238,637.40. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,060 shares of company stock worth $3,101,115. Insiders own 5.70% of the company's stock.

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.