New York State Common Retirement Fund Cuts Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

New York State Common Retirement Fund lowered its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 702,328 shares of the company's stock after selling 39,503 shares during the period. New York State Common Retirement Fund owned approximately 0.62% of nCino worth $23,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Clearbridge Investments LLC bought a new position in shares of nCino during the 3rd quarter valued at about $17,398,000. Trust Co of the South bought a new position in shares of nCino during the 4th quarter valued at about $4,430,000. Lisanti Capital Growth LLC bought a new position in shares of nCino during the 3rd quarter valued at about $3,171,000. Fred Alger Management LLC lifted its holdings in shares of nCino by 6.4% during the 3rd quarter. Fred Alger Management LLC now owns 1,339,050 shares of the company's stock valued at $42,582,000 after purchasing an additional 80,556 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of nCino by 85.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 139,997 shares of the company's stock valued at $4,452,000 after purchasing an additional 64,446 shares in the last quarter. Institutional investors own 94.76% of the company's stock.

nCino Stock Down 0.9 %

Shares of nCino stock traded down $0.27 on Friday, reaching $29.51. 884,312 shares of the company were exchanged, compared to its average volume of 1,230,254. nCino, Inc. has a one year low of $21.26 and a one year high of $37.48. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of -77.66, a PEG ratio of 24.70 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $31.14 and a 200 day moving average of $30.94.

nCino (NASDAQ:NCNO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.08. nCino had a positive return on equity of 0.31% and a negative net margin of 8.89%. The company had revenue of $123.69 million for the quarter, compared to analysts' expectations of $124.58 million. On average, equities research analysts forecast that nCino, Inc. will post 0.05 earnings per share for the current year.

Insider Activity at nCino

In related news, Director William J. Ruh sold 5,000 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $34.51, for a total value of $172,550.00. Following the sale, the director now owns 251,201 shares in the company, valued at approximately $8,668,946.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director William J. Ruh sold 5,000 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $34.51, for a total value of $172,550.00. Following the sale, the director now owns 251,201 shares in the company, valued at approximately $8,668,946.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jeanette Sellers sold 894 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $31.18, for a total value of $27,874.92. Following the completion of the sale, the vice president now owns 20,770 shares in the company, valued at approximately $647,608.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,105,300 shares of company stock worth $38,835,333. Company insiders own 38.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NCNO shares. Piper Sandler reiterated an "overweight" rating and set a $42.00 price objective on shares of nCino in a report on Wednesday, March 27th. Needham & Company LLC lifted their target price on nCino from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, March 27th. Robert W. Baird lifted their target price on nCino from $34.00 to $36.00 and gave the company a "neutral" rating in a research report on Wednesday, March 27th. William Blair reissued an "outperform" rating on shares of nCino in a research report on Wednesday, March 27th. Finally, Morgan Stanley lifted their target price on nCino from $27.00 to $30.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.91.

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.