Signaturefd LLC Has $204,000 Holdings in nCino Inc. (NASDAQ:NCNO)

Signaturefd LLC trimmed its holdings in nCino Inc. (NASDAQ:NCNO - Free Report) by 72.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,418 shares of the company's stock after selling 19,989 shares during the period. Signaturefd LLC's holdings in nCino were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Amundi lifted its holdings 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 acquiring an additional 4,547 shares during the period. Northern Trust Corp grew its stake in nCino by 14.1% during the fourth 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 period. Peregrine Capital Management LLC grew its stake in nCino by 3.3% during the first quarter. Peregrine Capital Management LLC now owns 289,168 shares of the company's stock worth $7,943,000 after buying an additional 9,283 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of nCino in the first quarter worth $343,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of nCino in the 4th quarter valued at $153,000. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Stock Down 0.8%

Shares of NASDAQ:NCNO traded down $0.24 during midday trading on Wednesday, reaching $30.99. The company had a trading volume of 968,880 shares, compared to its average volume of 1,560,686. The stock has a market capitalization of $3.59 billion, a P/E ratio of -119.19, a PEG ratio of 31.11 and a beta of 0.77. The stock's fifty day moving average price is $27.47 and its 200-day moving average price is $28.30. 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 Inc. has a one year low of $18.75 and a one year high of $43.20.

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

nCino announced that its board has initiated a stock buyback program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup reiterated an "outperform" rating on shares of nCino in a 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. Robert W. Baird upgraded shares of nCino from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $30.00 to $38.00 in a research note on Monday, July 14th. JPMorgan Chase & Co. initiated 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. Finally, Baird R W upgraded shares of nCino from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 14th. 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. Based on data from MarketBeat, nCino currently has an average rating of "Moderate Buy" and a consensus price target of $30.94.

Insider Buying and Selling at nCino

In related news, VP Jeanette Sellers sold 2,167 shares of nCino stock in a transaction dated Monday, May 5th. The shares were 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 in the company, valued at $617,791.32. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pierre Naude sold 30,745 shares of nCino stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $707,135.00. Following the sale, the director owned 1,197,120 shares in the company, valued at approximately $27,533,760. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,049 shares of company stock valued at $1,449,672. 5.70% of the stock is currently owned by 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.