Picton Mahoney Asset Management Reduces Stake in nCino Inc. (NASDAQ:NCNO)

Picton Mahoney Asset Management decreased its holdings in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 43.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,437 shares of the company's stock after selling 168,215 shares during the period. Picton Mahoney Asset Management owned 0.19% of nCino worth $6,056,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Horizon Advisors Inc. grew its stake in shares of nCino by 22.5% in the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock worth $80,000 after buying an additional 538 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of nCino by 1.2% in the 4th quarter. Sterling Capital Management LLC now owns 48,945 shares of the company's stock worth $1,644,000 after buying an additional 583 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of nCino by 1.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 36,676 shares of the company's stock worth $1,232,000 after buying an additional 620 shares during the last quarter. Xponance Inc. increased its holdings in shares of nCino by 7.9% in the 1st quarter. Xponance Inc. now owns 8,954 shares of the company's stock worth $246,000 after purchasing an additional 656 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of nCino by 0.8% in the 4th quarter. Legal & General Group Plc now owns 92,598 shares of the company's stock worth $3,109,000 after purchasing an additional 697 shares in the last quarter. Institutional investors own 94.76% of the company's stock.

nCino Stock Performance

nCino stock traded down $0.77 during trading on Friday, reaching $27.15. The company had a trading volume of 1,475,122 shares, compared to its average volume of 1,337,768. 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 $28.17 and its 200 day simple moving average is $28.13. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of -104.42, a price-to-earnings-growth ratio of 27.82 and a beta of 0.77. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24.

nCino (NASDAQ:NCNO - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, hitting 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 company had revenue of $144.14 million for the quarter, compared to analysts' expectations of $139.77 million. During the same period last year, the firm earned $0.19 EPS. nCino's revenue for the quarter was up 12.5% compared to the same quarter last year. Sell-side analysts forecast that nCino Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

NCNO has been the topic of several recent analyst reports. JMP Securities increased their price objective on nCino from $32.00 to $35.00 and gave the company a "market outperform" rating in a research report on Monday, June 9th. Stephens increased their price objective on nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. assumed coverage on nCino in a research report on Wednesday, June 18th. They set a "neutral" rating and a $30.00 price objective on the stock. Baird R W raised nCino from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 14th. Finally, Truist Financial increased their price objective on nCino from $21.00 to $27.00 and gave the company a "hold" rating in a research report on Thursday, May 29th. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, nCino has a consensus rating of "Moderate Buy" and an average price target of $31.13.

Insider Buying and Selling

In other nCino news, VP Jeanette Sellers sold 2,167 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $22.79, for a total transaction of $49,385.93. Following the sale, the vice president directly owned 27,108 shares of the company's stock, valued at $617,791.32. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.70% of the stock is currently owned by corporate insiders.

nCino 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.