Oppenheimer Asset Management Inc. Has $1.71 Million Stock Position in nCino Inc. (NASDAQ:NCNO)

Oppenheimer Asset Management Inc. lifted its stake in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 20.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. 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 0.05% of nCino worth $1,709,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Amundi lifted its position in shares of nCino by 312.1% during the 4th quarter. Amundi now owns 6,004 shares of the company's stock worth $201,000 after buying an additional 4,547 shares during the last quarter. Northern Trust Corp lifted its position in shares of nCino by 14.1% during the 4th quarter. Northern Trust Corp now owns 612,902 shares of the company's stock worth $20,581,000 after buying an additional 75,592 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of nCino by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 566,627 shares of the company's stock worth $19,027,000 after buying an additional 9,870 shares during the last quarter. Picton Mahoney Asset Management lifted its position in shares of nCino by 94.5% during the 4th quarter. Picton Mahoney Asset Management now owns 390,752 shares of the company's stock worth $13,122,000 after buying an additional 189,827 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of nCino during the 4th quarter worth $311,000. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Trading Up 1.1%

NASDAQ NCNO opened at $27.66 on Friday. The business has a 50 day simple moving average of $25.38 and a 200 day simple moving average of $28.99. nCino Inc. has a one year low of $18.75 and a one year high of $43.20. The stock has a market capitalization of $3.21 billion, a P/E ratio of -106.38, a P/E/G ratio of 28.13 and a beta of 0.76. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.05 and a quick ratio of 1.05.

nCino (NASDAQ:NCNO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The firm had revenue of $144.14 million during the quarter, compared to analysts' expectations of $139.77 million. During the same quarter last year, the firm posted $0.19 earnings per share. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts expect that nCino Inc. will post 0.12 earnings per share for the current year.

nCino declared that its Board of Directors has authorized a share buyback program on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NCNO shares. Keefe, Bruyette & Woods upped their price objective on nCino from $28.00 to $33.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Needham & Company LLC restated a "buy" rating and set a $33.00 price objective on shares of nCino in a research report on Thursday, May 29th. Bank of America increased their target price on nCino from $22.00 to $26.00 and gave the company a "neutral" rating in a research report on Thursday, April 10th. Stephens increased their target price on nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. began coverage on nCino in a research report on Wednesday, June 18th. They issued a "neutral" rating and a $30.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $30.94.

Insider Activity at nCino

In related news, CFO Gregory Orenstein sold 12,101 shares of nCino stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $252,426.86. Following the sale, the chief financial officer now directly owns 259,643 shares in the company, valued at approximately $5,416,152.98. This trade represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider April Rieger sold 7,881 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,397.66. Following the completion of the transaction, the insider now directly owns 138,072 shares in the company, valued at $2,880,181.92. This trade represents a 5.40% decrease in their ownership of the stock. 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 over the last 90 days. Insiders own 5.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.