Tremblant Capital Group Has $12.90 Million Stake in nCino, Inc. (NASDAQ:NCNO)

Tremblant Capital Group increased its holdings in nCino, Inc. (NASDAQ:NCNO - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 384,239 shares of the company's stock after buying an additional 17,029 shares during the period. nCino accounts for 1.3% of Tremblant Capital Group's holdings, making the stock its 29th largest position. Tremblant Capital Group owned 0.33% of nCino worth $12,903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NCNO. Conestoga Capital Advisors LLC acquired a new position in nCino during the fourth quarter valued at approximately $70,256,000. Amundi raised its position in nCino by 312.1% during the fourth quarter. Amundi now owns 6,004 shares of the company's stock valued at $201,000 after purchasing an additional 4,547 shares in the last quarter. Barclays PLC raised its position in nCino by 22.2% during the third quarter. Barclays PLC now owns 73,014 shares of the company's stock valued at $2,306,000 after purchasing an additional 13,252 shares in the last quarter. KBC Group NV raised its position in nCino by 3,082.1% during the fourth quarter. KBC Group NV now owns 75,988 shares of the company's stock valued at $2,552,000 after purchasing an additional 73,600 shares in the last quarter. Finally, Northern Trust Corp raised its position in nCino by 14.1% during the fourth 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 in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at nCino

In other news, CFO Gregory Orenstein sold 10,343 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $237,889.00. Following the transaction, the chief financial officer now owns 470,254 shares in the company, valued at approximately $10,815,842. This represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider April Rieger sold 7,881 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $164,397.66. Following the transaction, the insider now owns 138,072 shares in the company, valued at $2,880,181.92. This represents a 5.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,060 shares of company stock valued at $3,101,115. 28.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NCNO has been the subject of several research analyst reports. Truist Financial downgraded shares of nCino from a "buy" rating to a "hold" rating and lowered their price objective for the company from $44.00 to $21.00 in a research report on Wednesday, April 2nd. Raymond James decreased their target price on shares of nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Piper Sandler decreased their target price on shares of nCino from $28.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley decreased their target price on shares of nCino from $39.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group cut shares of nCino from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $42.00 to $24.00 in a research note on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $30.40.

nCino Stock Performance

Shares of NCNO opened at $24.60 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $2.83 billion, a P/E ratio of -144.70, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. The firm's fifty day simple moving average is $24.89 and its two-hundred day simple moving average is $31.69. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). The firm had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The business's revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $0.21 EPS. As a group, analysts predict that nCino, Inc. will post 0.12 EPS for the current year.

nCino declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

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.

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