Tudor Investment Corp ET AL Sells 201,145 Shares of nCino, Inc. (NASDAQ:NCNO)

Tudor Investment Corp ET AL reduced its stake in nCino, Inc. (NASDAQ:NCNO - Free Report) by 88.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,808 shares of the company's stock after selling 201,145 shares during the period. Tudor Investment Corp ET AL's holdings in nCino were worth $900,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wasatch Advisors LP boosted its position in nCino by 171.9% in the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock valued at $207,450,000 after buying an additional 3,905,802 shares during the last quarter. Invesco Ltd. grew its stake in nCino by 3,006.0% during the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock valued at $87,392,000 after purchasing an additional 2,518,707 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in nCino during the 4th quarter worth approximately $81,254,000. Conestoga Capital Advisors LLC acquired a new position in shares of nCino in the 4th quarter valued at approximately $70,256,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of nCino by 139.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock valued at $108,834,000 after buying an additional 1,889,283 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Trading Up 0.7 %

NCNO stock traded up $0.16 during midday trading on Friday, reaching $23.93. The stock had a trading volume of 2,206,382 shares, compared to its average volume of 1,436,864. The business has a fifty day simple moving average of $25.42 and a two-hundred day simple moving average of $32.21. nCino, Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -140.76, a PEG ratio of 5.77 and a beta of 0.71. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results 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 the consensus estimate of $140.81 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The business's revenue was up 14.3% on a year-over-year basis. As a group, research analysts expect that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 1st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other nCino news, insider April Rieger sold 7,881 shares of nCino stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 of the company's stock, valued at approximately $2,880,181.92. The trade was a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sean Desmond sold 12,339 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $283,797.00. Following the completion of the sale, the chief executive officer now owns 637,405 shares in the company, valued at approximately $14,660,315. This trade represents a 1.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 141,060 shares of company stock valued at $3,101,115 in the last ninety days. 28.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NCNO. Raymond James reduced their price target on shares of nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. UBS Group set a $40.00 target price on nCino in a research report on Friday, March 28th. Barclays dropped their price target on nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Needham & Company LLC lowered their target price on shares of nCino from $45.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Morgan Stanley reduced their price target 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. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.