Untitled Investments LP Sells 683,081 Shares of nCino, Inc. (NASDAQ:NCNO)

Untitled Investments LP lowered its position in nCino, Inc. (NASDAQ:NCNO - Free Report) by 71.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,737 shares of the company's stock after selling 683,081 shares during the quarter. nCino accounts for approximately 2.3% of Untitled Investments LP's holdings, making the stock its 14th biggest holding. Untitled Investments LP owned about 0.24% of nCino worth $9,259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NCNO. Asset Management One Co. Ltd. increased its holdings in shares of nCino by 16.5% in the 4th 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. Victory Capital Management Inc. raised its holdings in nCino by 2.9% during the fourth 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 lifted its holdings in shares of nCino by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock valued at $276,000 after buying an additional 400 shares during the period. Handelsbanken Fonder AB lifted its holdings in nCino by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock valued at $772,000 after acquiring an additional 500 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in nCino by 1.2% during the fourth 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. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NCNO has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on nCino from $39.00 to $23.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. Raymond James dropped their price target on shares of nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Piper Sandler cut their price objective on shares of nCino from $28.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group lowered nCino from a "buy" rating to a "neutral" rating and cut their target price for the company from $42.00 to $24.00 in a report on Wednesday, April 2nd. Finally, UBS Group set a $40.00 price objective on shares of nCino in a research note 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $30.40.

Insiders Place Their Bets

In other news, CEO Sean Desmond sold 2,301 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total transaction 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 $6,610,363.76. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gregory Orenstein sold 5,148 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $167,824.80. Following the transaction, the chief financial officer now directly owns 271,744 shares of the company's stock, valued at $8,858,854.40. This represents a 1.86 % decrease in their ownership of the stock. 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. Company insiders own 28.40% of the company's stock.

nCino Price Performance

NASDAQ NCNO traded down $0.33 on Thursday, reaching $22.87. The company's stock had a trading volume of 1,068,328 shares, compared to its average volume of 1,402,915. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a market cap of $2.66 billion, a PE ratio of -134.52, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The business has a 50-day moving average price of $26.36 and a 200 day moving average price of $32.80.

nCino (NASDAQ:NCNO - Get Free Report) last released 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). The company had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. Sell-side analysts expect that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its board has initiated a stock buyback program on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

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.