nCino, Inc. (NASDAQ:NCNO) Holdings Lessened by ShawSpring Partners LLC

ShawSpring Partners LLC lowered its stake in nCino, Inc. (NASDAQ:NCNO - Free Report) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,628,856 shares of the company's stock after selling 24,831 shares during the period. nCino accounts for 11.7% of ShawSpring Partners LLC's holdings, making the stock its 4th largest holding. ShawSpring Partners LLC owned approximately 2.27% of nCino worth $88,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in NCNO. Asset Management One Co. Ltd. boosted its holdings in nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after purchasing an additional 323 shares during the period. Victory Capital Management Inc. raised its holdings in nCino by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock worth $407,000 after purchasing an additional 340 shares in the last quarter. Berry Wealth Group LP boosted its position in shares of nCino by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock valued at $276,000 after purchasing an additional 400 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of nCino by 2.2% during the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock valued at $772,000 after purchasing an additional 500 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in nCino by 1.2% during the 4th quarter. Sterling Capital Management LLC now owns 48,945 shares of the company's stock valued at $1,644,000 after purchasing an additional 583 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Trading Down 2.6 %

Shares of NASDAQ NCNO traded down $0.63 during midday trading on Monday, hitting $23.32. The stock had a trading volume of 224,338 shares, compared to its average volume of 1,374,210. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The firm has a market cap of $2.72 billion, a P/E ratio of -137.17, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. 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 company's 50-day simple moving average is $28.19 and its 200 day simple moving average is $33.39.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The firm had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm's quarterly revenue was up 14.3% on a year-over-year basis. Research analysts anticipate that nCino, Inc. will post 0.12 EPS for the current 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 shares. This repurchase authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

NCNO has been the subject of a number of recent research reports. Piper Sandler cut their price objective on shares of nCino from $38.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Barclays dropped their price objective on shares of nCino from $44.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Scotiabank reaffirmed a "sector perform" rating and set a $19.00 target price (down from $35.00) on shares of nCino in a research report on Wednesday, April 2nd. Morgan Stanley cut their price objective on shares of nCino from $39.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group set a $40.00 price target on nCino in a research report on Friday, March 28th. Ten 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.com, the company has a consensus rating of "Hold" and an average target price of $30.60.

Insider Activity at nCino

In related news, CEO Sean Desmond sold 5,034 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $164,108.40. Following the transaction, the chief executive officer now owns 306,477 shares of the company's stock, valued at approximately $9,991,150.20. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider April Rieger sold 7,881 shares of nCino stock in a transaction 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 sale, the insider now owns 138,072 shares in the company, valued at $2,880,181.92. This trade represents a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,012 shares of company stock valued at $2,694,676 in the last quarter. Insiders own 28.40% of the company's stock.

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.