Robeco Institutional Asset Management B.V. Buys 135,000 Shares of nCino Inc. (NASDAQ:NCNO)

Robeco Institutional Asset Management B.V. increased its position in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 38.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 485,000 shares of the company's stock after buying an additional 135,000 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.42% of nCino worth $13,323,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Amundi raised its position in nCino by 312.1% during the fourth quarter. Amundi now owns 6,004 shares of the company's stock worth $201,000 after acquiring an additional 4,547 shares in the last quarter. Northern Trust Corp raised its holdings in shares of nCino by 14.1% in the 4th quarter. Northern Trust Corp now owns 612,902 shares of the company's stock valued at $20,581,000 after purchasing an additional 75,592 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in nCino by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 566,627 shares of the company's stock valued at $19,027,000 after purchasing an additional 9,870 shares during the last quarter. Picton Mahoney Asset Management grew its holdings in nCino by 94.5% during the fourth quarter. Picton Mahoney Asset Management now owns 390,752 shares of the company's stock worth $13,122,000 after purchasing an additional 189,827 shares during the period. Finally, OFI Invest Asset Management acquired a new position in nCino during the fourth quarter worth approximately $311,000. Institutional investors own 94.76% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on NCNO shares. Raymond James Financial cut their price objective on nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Citigroup reaffirmed an "outperform" rating on shares of nCino in a research report on Monday, June 9th. JMP Securities increased their price objective on shares of nCino from $32.00 to $35.00 and gave the company a "market outperform" rating in a research report on Monday, June 9th. Truist Financial lifted 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. Finally, Morgan Stanley increased their price target on shares of nCino from $27.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $30.94.

nCino Price Performance

NCNO stock traded up $0.30 during mid-day trading on Wednesday, hitting $28.02. The stock had a trading volume of 766,293 shares, compared to its average volume of 1,549,317. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.25 billion, a P/E ratio of -107.75, a P/E/G ratio of 28.74 and a beta of 0.77. The firm has a fifty day simple moving average of $25.57 and a 200 day simple moving average of $28.83. nCino Inc. has a 52 week low of $18.75 and a 52 week 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 the consensus estimate 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 period in the prior year, the company earned $0.19 earnings per share. The company's quarterly revenue was up 12.5% on a year-over-year basis. As a group, research analysts forecast that nCino Inc. will post 0.12 EPS for the current year.

nCino declared that its board has initiated a stock buyback plan on Tuesday, April 1st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Insider Transactions at nCino

In related news, CEO Sean Desmond sold 12,339 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.00, for a total transaction of $283,797.00. Following the sale, the chief executive officer owned 637,405 shares in the company, valued at $14,660,315. The trade was a 1.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider April Rieger sold 6,589 shares of the company'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 value of $151,547.00. Following the completion of the transaction, the insider directly owned 243,551 shares of the company's stock, valued at $5,601,673. This represents a 2.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,073 shares of company stock valued at $1,849,787. 5.70% of the stock is owned by company insiders.

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.