HMI Capital Management L.P. Has $227.46 Million Position in nCino, Inc. (NASDAQ:NCNO)

HMI Capital Management L.P. lowered its position in nCino, Inc. (NASDAQ:NCNO - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,773,778 shares of the company's stock after selling 1,100,000 shares during the quarter. nCino makes up approximately 11.4% of HMI Capital Management L.P.'s portfolio, making the stock its 5th biggest position. HMI Capital Management L.P. owned about 5.85% of nCino worth $227,463,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp purchased a new stake in shares of nCino during the fourth quarter valued at approximately $34,000. Hilltop National Bank purchased a new stake in shares of nCino during the fourth quarter valued at approximately $37,000. Asset Management One Co. Ltd. lifted its stake in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock worth $78,000 after acquiring an additional 323 shares during the period. PNC Financial Services Group Inc. lifted its stake in nCino by 32.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock worth $152,000 after acquiring an additional 1,122 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in nCino in the third quarter worth $189,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

Insider Transactions at nCino

In other nCino news, CFO Gregory Orenstein sold 2,356 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total transaction of $52,562.36. Following the completion of the sale, the chief financial officer now directly owns 329,735 shares of the company's stock, valued at approximately $7,356,387.85. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sean Desmond sold 5,034 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the sale, the chief executive officer now directly owns 306,477 shares of the company's stock, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,012 shares of company stock worth $2,694,676 in the last quarter. Company insiders own 28.40% of the company's stock.

nCino Stock Performance

Shares of nCino stock traded down $0.36 during trading on Wednesday, hitting $23.04. 239,935 shares of the company's stock traded hands, compared to its average volume of 1,399,514. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20. The stock has a market capitalization of $2.68 billion, a P/E ratio of -135.52, a PEG ratio of 5.77 and a beta of 0.69. The business has a 50-day simple moving average of $26.71 and a 200-day simple moving average of $32.95.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate 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 business had revenue of $141.37 million for the quarter, compared to analysts' expectations of $140.81 million. During the same period last year, the business earned $0.21 earnings per share. The company's quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts forecast that nCino, Inc. will post 0.12 EPS for the current year.

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

Wall Street Analysts Forecast Growth

NCNO has been the subject of a number of research analyst reports. Barclays dropped their price target on nCino from $44.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler dropped their price target on nCino from $28.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley dropped their price target on nCino from $39.00 to $23.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. Raymond James decreased their price objective on nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Finally, Stephens reiterated an "equal weight" rating and issued a $38.00 price objective on shares of nCino in a report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, nCino has a consensus rating of "Hold" and an average target price of $30.40.

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.