Insight Holdings Group LLC Reduces Holdings in nCino, Inc. (NASDAQ:NCNO)

Insight Holdings Group LLC cut its holdings in nCino, Inc. (NASDAQ:NCNO - Free Report) by 71.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,513,467 shares of the company's stock after selling 11,500,000 shares during the period. nCino accounts for approximately 9.8% of Insight Holdings Group LLC's portfolio, making the stock its 4th biggest holding. Insight Holdings Group LLC owned 3.90% of nCino worth $151,562,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wasatch Advisors LP grew its holdings in shares of nCino by 171.9% during the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock worth $207,450,000 after purchasing an additional 3,905,802 shares in the last quarter. Invesco Ltd. increased its stake in nCino by 3,006.0% in the fourth quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock valued at $87,392,000 after acquiring an additional 2,518,707 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in nCino in the fourth quarter worth about $81,254,000. Conestoga Capital Advisors LLC bought a new position in nCino during the fourth quarter worth about $70,256,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in nCino by 139.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock valued at $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.

Wall Street Analyst Weigh In

NCNO has been the topic of a number of analyst reports. Raymond James lowered their price target on nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler decreased their target price on nCino from $28.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Bank of America lifted their price target on nCino from $22.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, April 10th. William Blair downgraded nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Finally, UBS Group set a $40.00 price objective on nCino in a research report on Friday, March 28th. Ten 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, nCino presently has an average rating of "Hold" and a consensus price target of $30.40.

nCino Price Performance

NCNO stock traded down $0.33 during trading on Thursday, reaching $22.87. 1,068,328 shares of the company were exchanged, compared to its average volume of 1,402,915. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -134.52, a P/E/G ratio of 5.77 and a beta of 0.69. nCino, Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. 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 has a 50-day moving average of $26.53 and a two-hundred day moving average of $32.88.

nCino (NASDAQ:NCNO - Get Free Report) last announced its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). The company 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 firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 earnings per share. As a group, equities analysts predict that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

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

Insider Buying and Selling at nCino

In other nCino news, CEO Sean Desmond sold 2,301 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $22.31, for a total value of $51,335.31. Following the completion of the sale, the chief executive officer now owns 296,296 shares of the company's stock, valued at approximately $6,610,363.76. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jeanette Sellers sold 2,501 shares of nCino stock in a transaction on Friday, April 4th. The shares were sold at an average price of $21.51, for a total transaction of $53,796.51. Following the completion of the sale, the vice president now directly owns 19,099 shares of the company's stock, valued at approximately $410,819.49. The trade was a 11.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,012 shares of company stock valued at $2,694,676. 28.40% of the stock is currently owned by company insiders.

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.