Malaga Cove Capital LLC Acquires 14,203 Shares of nCino, Inc. (NASDAQ:NCNO)

Malaga Cove Capital LLC boosted its position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 104.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,817 shares of the company's stock after acquiring an additional 14,203 shares during the period. Malaga Cove Capital LLC's holdings in nCino were worth $934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wasatch Advisors LP raised its position in shares of nCino by 171.9% during the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock valued at $207,450,000 after buying an additional 3,905,802 shares during the last quarter. Invesco Ltd. raised its position in shares of nCino by 3,006.0% during the fourth quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock valued at $87,392,000 after buying an additional 2,518,707 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of nCino during the fourth quarter valued at about $81,254,000. Conestoga Capital Advisors LLC acquired a new position in shares of nCino during the fourth quarter valued at about $70,256,000. Finally, T. Rowe Price Investment Management Inc. raised its position 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 purchasing an additional 1,889,283 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Activity at nCino

In other nCino news, Director Pierre Naude sold 31,123 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the completion of the sale, the director now directly owns 1,066,090 shares in the company, valued at $22,238,637.40. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider April Rieger sold 6,589 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $23.00, for a total value of $151,547.00. Following the transaction, the insider now directly owns 243,551 shares of the company's stock, valued at $5,601,673. This represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,060 shares of company stock worth $3,101,115. 28.40% of the stock is owned by insiders.

nCino Price Performance

NCNO traded up $0.12 during trading on Friday, hitting $24.60. The company's stock had a trading volume of 1,371,975 shares, compared to its average volume of 1,452,557. The firm's 50 day moving average price is $24.89 and its two-hundred day moving average price is $31.77. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -144.70, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71.

nCino (NASDAQ:NCNO - Get Free Report) last released its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share 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 positive return on equity of 1.62% and a negative net margin of 3.46%. The company's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. Sell-side analysts forecast that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

NCNO has been the subject of several recent research reports. Raymond James dropped 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. Barclays dropped their price target on shares of nCino from $44.00 to $24.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Stephens reissued an "equal weight" rating and issued a $38.00 price target on shares of nCino in a research report on Wednesday, April 2nd. Bank of America increased their price target on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, April 10th. Finally, KeyCorp reissued a "sector weight" rating on shares of nCino in a research report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $30.40.

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.