Soma Equity Partners LP Grows Position in nCino, Inc. (NASDAQ:NCNO)

Soma Equity Partners LP grew its stake in nCino, Inc. (NASDAQ:NCNO - Free Report) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,917,681 shares of the company's stock after acquiring an additional 156,238 shares during the quarter. nCino comprises about 5.4% of Soma Equity Partners LP's portfolio, making the stock its 14th biggest position. Soma Equity Partners LP owned approximately 2.52% of nCino worth $97,976,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Quantinno Capital Management LP increased its position in shares of nCino by 107.7% during the fourth quarter. Quantinno Capital Management LP now owns 14,332 shares of the company's stock worth $481,000 after purchasing an additional 7,431 shares in the last quarter. Malaga Cove Capital LLC boosted its stake in nCino by 104.3% in the 4th quarter. Malaga Cove Capital LLC now owns 27,817 shares of the company's stock worth $934,000 after purchasing an additional 14,203 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in nCino by 4.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 87,668 shares of the company's stock worth $2,944,000 after purchasing an additional 3,983 shares during the last quarter. Lazard Asset Management LLC grew its position in nCino by 24.7% during the 4th quarter. Lazard Asset Management LLC now owns 34,011 shares of the company's stock worth $1,142,000 after purchasing an additional 6,728 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in nCino during the 4th quarter valued at approximately $13,432,000. 94.76% of the stock is owned by institutional investors.

Insider Activity at nCino

In related news, insider April Rieger sold 7,881 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $164,397.66. Following the transaction, the insider now owns 138,072 shares in the company, valued at $2,880,181.92. The trade was a 5.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Pierre Naude sold 31,123 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the sale, the director now directly owns 1,066,090 shares of the company's stock, valued at approximately $22,238,637.40. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,060 shares of company stock worth $3,101,115. 28.40% of the stock is currently owned by company insiders.

nCino Trading Up 0.6%

Shares of NASDAQ NCNO 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 1,459,987. nCino, Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. The stock has a market capitalization of $2.85 billion, a P/E ratio of -145.58, a PEG ratio of 5.77 and a beta of 0.71. The company has a 50 day simple moving average of $24.89 and a 200 day simple moving average of $31.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (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 during the quarter, compared to analysts' expectations of $140.81 million. During the same period last year, the firm posted $0.21 earnings per share. nCino's revenue was up 14.3% on a year-over-year basis. As a group, equities analysts expect that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino announced that its board has approved a share repurchase program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

NCNO has been the topic of a number of research analyst reports. KeyCorp reissued a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. William Blair downgraded nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Stephens restated an "equal weight" rating and issued a $38.00 price objective on shares of nCino in a research note on Wednesday, April 2nd. Truist Financial lowered nCino from a "buy" rating to a "hold" rating and dropped their target price for the company from $44.00 to $21.00 in a research report on Wednesday, April 2nd. Finally, Needham & Company LLC reduced 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. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target 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.