Gotham Asset Management LLC Acquires 32,456 Shares of nCino, Inc. (NASDAQ:NCNO)

Gotham Asset Management LLC increased its stake in nCino, Inc. (NASDAQ:NCNO - Free Report) by 130.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,304 shares of the company's stock after buying an additional 32,456 shares during the quarter. Gotham Asset Management LLC's holdings in nCino were worth $1,924,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of nCino by 9.6% during the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company's stock worth $363,697,000 after buying an additional 948,282 shares during the last quarter. Wasatch Advisors LP lifted its position in nCino by 171.9% during 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 boosted its holdings in shares of nCino by 57.4% during 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 period. T. Rowe Price Investment Management Inc. grew its position in shares of 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 valued at $108,834,000 after purchasing an additional 1,889,283 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of nCino by 140.5% during the fourth quarter. Ameriprise Financial Inc. now owns 2,900,467 shares of the company's stock worth $97,398,000 after purchasing an additional 1,694,218 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

nCino Price Performance

NCNO stock traded up $0.15 during midday trading on Monday, reaching $24.75. 2,238,968 shares of the stock were exchanged, compared to its average volume of 1,459,985. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The company has a fifty day moving average price of $24.89 and a 200 day moving average price of $31.69. 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 stock has a market capitalization of $2.85 billion, a PE ratio of -145.58, a P/E/G ratio of 5.77 and a beta of 0.71.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). The firm had revenue of $141.37 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. As a group, analysts expect that nCino, Inc. will post 0.12 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other nCino news, insider April Rieger sold 7,881 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 value of $164,397.66. Following the completion of the sale, the insider now directly owns 138,072 shares in the company, valued at approximately $2,880,181.92. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jeanette Sellers sold 2,501 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $21.51, for a total transaction of $53,796.51. Following the sale, the vice president now directly owns 19,099 shares of the company's stock, valued at approximately $410,819.49. This trade represents a 11.58% decrease in their position. 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 28.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Stephens reiterated an "equal weight" rating and set a $38.00 price objective on shares of nCino in a research report on Wednesday, April 2nd. KeyCorp reissued a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Truist Financial cut shares of nCino from a "buy" rating to a "hold" rating and lowered their target price for the stock from $44.00 to $21.00 in a report on Wednesday, April 2nd. Needham & Company LLC cut their price target on nCino from $45.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Barclays reduced their price target on nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $30.40.

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.