Xponance Inc. Increases Stock Position in nCino Inc. (NASDAQ:NCNO)

Xponance Inc. lifted its holdings in shares of nCino Inc. (NASDAQ:NCNO) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,954 shares of the company’s stock after buying an additional 656 shares during the quarter. Xponance Inc.’s holdings in nCino were worth $246,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Johnson Financial Group Inc. bought a new position in shares of nCino in the 4th quarter worth $57,000. First Horizon Advisors Inc. lifted its position in shares of nCino by 22.5% in the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company’s stock worth $80,000 after purchasing an additional 538 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of nCino in the 1st quarter worth about $82,000. Asset Management One Co. Ltd. lifted its position in shares of nCino by 63.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 3,718 shares of the company’s stock worth $102,000 after purchasing an additional 1,439 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock worth $152,000 after purchasing an additional 1,122 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sean Desmond sold 12,339 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $283,797.00. Following the completion of the transaction, the chief executive officer owned 637,405 shares in the company, valued at approximately $14,660,315. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider April Rieger sold 6,589 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.00, for a total transaction of $151,547.00. Following the transaction, the insider owned 243,551 shares of the company’s stock, valued at approximately $5,601,673. This represents a 2.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,049 shares of company stock valued at $1,449,672 in the last quarter. Company insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NCNO shares. Scotiabank reissued a “sector perform” rating and set a $26.00 price objective (up previously from $19.00) on shares of nCino in a research note on Wednesday, May 21st. The Goldman Sachs Group lowered shares of nCino from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $24.00 in a research note on Wednesday, April 2nd. Citigroup reissued an “outperform” rating on shares of nCino in a research note on Monday, June 9th. Keefe, Bruyette & Woods boosted their price objective on shares of nCino from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, May 29th. Finally, Truist Financial boosted their price objective on shares of nCino from $21.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, May 29th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.69.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $30.61 on Friday. The firm has a 50 day moving average of $27.20 and a 200 day moving average of $28.33. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -117.73, a price-to-earnings-growth ratio of 31.46 and a beta of 0.77. nCino Inc. has a 12-month low of $18.75 and a 12-month high of $43.20.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $144.14 million during the quarter, compared to analyst estimates of $139.77 million. nCino had a negative net margin of 5.27% and a positive return on equity of 0.19%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. On average, research analysts anticipate that nCino Inc. will post 0.12 earnings per share for the current year.

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

nCino 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.