nCino, Inc. (NASDAQ:NCNO) Stock Holdings Increased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 1.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,541,143 shares of the company’s stock after purchasing an additional 23,631 shares during the period. Geode Capital Management LLC owned about 1.33% of nCino worth $51,769,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its stake in shares of nCino by 11.4% in the third quarter. HighTower Advisors LLC now owns 16,906 shares of the company’s stock worth $531,000 after acquiring an additional 1,724 shares during the last quarter. State Street Corp increased its position in nCino by 13.8% in the 3rd quarter. State Street Corp now owns 1,474,208 shares of the company’s stock worth $46,570,000 after purchasing an additional 178,641 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of nCino by 12.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 43,150 shares of the company’s stock worth $1,363,000 after purchasing an additional 4,656 shares in the last quarter. Barclays PLC lifted its holdings in shares of nCino by 22.2% during the 3rd quarter. Barclays PLC now owns 73,014 shares of the company’s stock valued at $2,306,000 after buying an additional 13,252 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of nCino during the 3rd quarter valued at about $189,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity

In other nCino news, Director Pierre Naude sold 31,123 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the sale, the director now directly owns 1,066,090 shares in the company, valued at $22,238,637.40. This represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sean Desmond sold 2,301 shares of the stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,012 shares of company stock worth $2,694,676. Company insiders own 28.40% of the company’s stock.

nCino Stock Performance

NCNO opened at $23.86 on Monday. nCino, Inc. has a 1 year low of $18.75 and a 1 year 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 stock’s 50 day simple moving average is $29.08 and its 200-day simple moving average is $33.65. The stock has a market cap of $2.78 billion, a PE ratio of -140.34, a P/E/G ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The business 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%. nCino’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. Sell-side analysts forecast that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its board has authorized a stock buyback program on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NCNO. Scotiabank reaffirmed a “sector perform” rating and set a $19.00 price objective (down previously from $35.00) on shares of nCino in a research report on Wednesday, April 2nd. KeyCorp restated a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Truist Financial cut shares of nCino from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $44.00 to $21.00 in a report on Wednesday, April 2nd. UBS Group set a $40.00 price target on nCino in a research note on Friday, March 28th. Finally, Bank of America raised their price objective on nCino from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.60.

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.