Tremblant Capital Group Grows Position in nCino, Inc. (NASDAQ:NCNO)

Tremblant Capital Group raised its holdings in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 384,239 shares of the company's stock after purchasing an additional 17,029 shares during the period. nCino accounts for about 1.3% of Tremblant Capital Group's portfolio, 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 institutional investors have also added to or reduced their stakes in the business. Tensile Capital Management LP increased its position in nCino by 12.6% during the 4th quarter. Tensile Capital Management LP now owns 1,428,734 shares of the company's stock valued at $47,977,000 after purchasing an additional 160,000 shares during the period. Select Equity Group L.P. increased its position in nCino by 4.1% during the 4th quarter. Select Equity Group L.P. now owns 53,546 shares of the company's stock valued at $1,798,000 after purchasing an additional 2,092 shares during the period. Silvercrest Asset Management Group LLC grew its position in shares of nCino by 5.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 566,308 shares of the company's stock worth $19,017,000 after buying an additional 27,524 shares during the last quarter. Soma Equity Partners LP grew its position in shares of nCino by 5.7% in the 4th quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company's stock worth $97,976,000 after buying an additional 156,238 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of nCino by 107.7% in the 4th quarter. Quantinno Capital Management LP now owns 14,332 shares of the company's stock worth $481,000 after buying an additional 7,431 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

nCino Stock Performance

NCNO stock traded down $0.40 during trading on Friday, reaching $26.26. The company had a trading volume of 2,955,053 shares, compared to its average volume of 1,491,843. The firm has a 50-day simple moving average of $24.63 and a 200-day simple moving average of $31.37. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -154.46, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino, Inc. has a twelve month low of $18.75 and a twelve month high of $43.20.

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

nCino declared that its board has initiated a stock repurchase plan on Tuesday, April 1st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at nCino

In other nCino news, VP Jeanette Sellers sold 2,167 shares of nCino stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $22.79, for a total transaction of $49,385.93. Following the completion of the sale, the vice president now directly owns 27,108 shares in the company, valued at approximately $617,791.32. The trade was a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory Orenstein sold 12,101 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $252,426.86. Following the completion of the transaction, the chief financial officer now owns 259,643 shares of the company's stock, valued at approximately $5,416,152.98. This represents a 4.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,060 shares of company stock worth $3,101,115. Company insiders own 5.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NCNO. Piper Sandler cut their price objective on shares of nCino from $28.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a research report on Monday, February 3rd. William Blair downgraded shares of nCino from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Barclays cut their price objective on shares of nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group downgraded shares of nCino from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $42.00 to $24.00 in a research report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $30.80.

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.