Sequoia Financial Advisors LLC Invests $343,000 in nCino Inc. (NASDAQ:NCNO)

Sequoia Financial Advisors LLC acquired a new position in shares of nCino Inc. (NASDAQ:NCNO - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,469 shares of the company's stock, valued at approximately $343,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Johnson Financial Group Inc. bought a new stake in shares of nCino in the 4th quarter valued at about $57,000. FNY Investment Advisers LLC purchased a new position in nCino during the first quarter valued at approximately $82,000. Asset Management One Co. Ltd. raised its stake in nCino by 63.1% in the first quarter. Asset Management One Co. Ltd. now owns 3,718 shares of the company's stock worth $102,000 after buying an additional 1,439 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in nCino by 32.9% during the fourth 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 during the period. Finally, BNP Paribas Financial Markets purchased a new stake in nCino during the fourth quarter worth $153,000. 94.76% of the stock is owned by institutional investors.

nCino Stock Performance

Shares of NCNO traded up $0.71 during trading hours on Friday, reaching $28.68. 813,605 shares of the company traded hands, compared to its average volume of 1,554,576. 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 business has a fifty day moving average price of $25.78 and a 200-day moving average price of $28.77. nCino Inc. has a 12-month low of $18.75 and a 12-month high of $43.20. The stock has a market capitalization of $3.33 billion, a P/E ratio of -110.30, a P/E/G ratio of 28.74 and a beta of 0.77.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $144.14 million for 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 company's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 EPS. Equities analysts anticipate that nCino Inc. will post 0.12 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

NCNO has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price target on nCino from $28.00 to $33.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. Scotiabank reiterated a "sector perform" rating and issued a $26.00 target price (up previously from $19.00) on shares of nCino in a research note on Wednesday, May 21st. JMP Securities boosted their target price on shares of nCino from $32.00 to $35.00 and gave the stock a "market outperform" rating in a report on Monday, June 9th. Raymond James Financial decreased their price target on shares of nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $28.00 price objective (up previously from $25.00) on shares of nCino in a research report on Thursday, May 29th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $30.94.

Insider Buying and Selling

In related news, CFO Gregory Orenstein sold 10,343 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $237,889.00. Following the completion of the transaction, the chief financial officer owned 470,254 shares of the company's stock, valued at $10,815,842. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pierre Naude sold 30,745 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $707,135.00. Following the transaction, the director owned 1,197,120 shares of the company's stock, valued at $27,533,760. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,572 shares of company stock worth $1,795,990 in the last quarter. 5.70% of the stock is currently owned by corporate insiders.

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.