Twinbeech Capital LP Buys Shares of 21,332 nCino, Inc. (NASDAQ:NCNO)

Twinbeech Capital LP bought a new position in nCino, Inc. (NASDAQ:NCNO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,332 shares of the company's stock, valued at approximately $716,000.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in nCino by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company's stock worth $363,697,000 after acquiring an additional 948,282 shares during the last quarter. Wasatch Advisors LP lifted its holdings in nCino by 171.9% in the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock worth $207,450,000 after acquiring an additional 3,905,802 shares during the last quarter. Capital International Investors lifted its holdings in nCino by 57.4% in the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company's stock worth $157,531,000 after acquiring an additional 1,710,893 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in nCino by 139.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock worth $108,834,000 after acquiring an additional 1,889,283 shares during the last quarter. Finally, Soma Equity Partners LP lifted its holdings in nCino by 5.7% in the fourth quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company's stock worth $97,976,000 after acquiring an additional 156,238 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

nCino Price Performance

Shares of NASDAQ NCNO traded up $0.76 during mid-day trading on Tuesday, reaching $27.02. 326,944 shares of the company traded hands, compared to its average volume of 1,491,330. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $3.11 billion, a PE ratio of -158.46, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. The stock has a fifty day simple moving average of $24.58 and a 200-day simple moving average of $31.12.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same quarter in the prior year, the business earned $0.21 EPS. nCino's revenue was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

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 value of $49,385.93. Following the transaction, the vice president now owns 27,108 shares in the company, valued at approximately $617,791.32. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Orenstein sold 12,101 shares of nCino stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 in the company, valued at approximately $5,416,152.98. This trade represents a 4.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,060 shares of company stock worth $3,101,115. 5.70% of the stock is owned by insiders.

Analyst Ratings Changes

NCNO has been the topic of a number of recent research reports. Piper Sandler cut their target price on shares of nCino from $28.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Raymond James cut their price target on nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Stephens lifted their price target on nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Wednesday, May 21st. The Goldman Sachs Group cut nCino from a "buy" rating to a "neutral" rating and cut their price target for the company from $42.00 to $24.00 in a report on Wednesday, April 2nd. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $26.00 price target (up previously from $19.00) on shares of nCino in a report on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $30.07.

About nCino

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.