Twinbeech Capital LP Acquires New Holdings in nCino, Inc. (NASDAQ:NCNO)

Twinbeech Capital LP acquired a new stake in nCino, Inc. (NASDAQ:NCNO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 21,332 shares of the company's stock, valued at approximately $716,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in nCino in the 4th quarter valued at approximately $34,000. Johnson Financial Group Inc. bought a new position in nCino in the 4th quarter valued at approximately $57,000. Asset Management One Co. Ltd. lifted its stake in nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after purchasing an additional 323 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock valued at $152,000 after purchasing an additional 1,122 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in nCino in the 4th quarter valued at approximately $153,000. Institutional investors own 94.76% of the company's stock.

nCino Trading Down 1.3%

NCNO opened at $25.48 on Thursday. nCino, Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average of $24.72 and a 200-day moving average of $31.52. The stock has a market cap of $2.94 billion, a PE ratio of -149.87, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71.

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

nCino announced that its board has approved a share repurchase program on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

NCNO has been the subject of several recent research reports. Needham & Company LLC decreased their price target on shares of nCino from $45.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Raymond James 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. Keefe, Bruyette & Woods decreased their price target on shares of nCino from $40.00 to $28.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. Stephens upped their price target on shares of nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, Scotiabank upped their price target on shares of nCino from $19.00 to $26.00 and gave the company a "sector perform" rating in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $30.20.

Insiders Place Their Bets

In other nCino news, insider April Rieger sold 6,589 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 value of $151,547.00. Following the completion of the sale, the insider now directly owns 243,551 shares in the company, valued at approximately $5,601,673. This trade represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sean Desmond sold 7,880 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,376.80. Following the completion of the sale, the chief executive officer now owns 298,597 shares of the company's stock, valued at $6,228,733.42. The trade was a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,060 shares of company stock worth $3,101,115. 28.40% of the stock is currently owned by company 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.

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