nCino, Inc. (NASDAQ:NCNO) Stock Position Boosted by Lead Edge Capital Management LLC

Lead Edge Capital Management LLC raised its position in nCino, Inc. (NASDAQ:NCNO) by 24.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 831,672 shares of the company’s stock after purchasing an additional 164,672 shares during the quarter. nCino comprises 9.4% of Lead Edge Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. Lead Edge Capital Management LLC’s holdings in nCino were worth $27,928,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NCNO. Barclays PLC lifted its holdings in nCino by 22.2% in the third quarter. Barclays PLC now owns 73,014 shares of the company’s stock valued at $2,306,000 after acquiring an additional 13,252 shares during the last quarter. Geode Capital Management LLC raised its position in nCino by 26.1% in the third quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock valued at $47,951,000 after purchasing an additional 313,637 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of nCino in the 3rd quarter valued at $189,000. Synovus Financial Corp purchased a new position in shares of nCino during the 3rd quarter worth $656,000. Finally, Franklin Resources Inc. increased its position in shares of nCino by 46.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after purchasing an additional 344,269 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity at nCino

In other news, 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 transaction of $167,824.80. Following the completion of the transaction, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at approximately $8,858,854.40. This represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider April Rieger sold 7,881 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $164,397.66. Following the completion of the transaction, the insider now owns 138,072 shares in the company, valued at approximately $2,880,181.92. The trade was a 5.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,012 shares of company stock valued at $2,694,676 over the last quarter. 28.40% of the stock is owned by insiders.

nCino Stock Performance

Shares of nCino stock opened at $23.28 on Wednesday. The business has a 50-day simple moving average of $27.75 and a 200-day simple moving average of $33.27. The company has a market cap of $2.71 billion, a PE ratio of -136.93, a P/E/G ratio of 5.77 and a beta of 0.69. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

nCino (NASDAQ:NCNO) last posted its quarterly 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 positive return on equity of 1.62% and a negative net margin of 3.46%. The firm had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same quarter last year, the firm earned $0.21 EPS. The company’s revenue was up 14.3% on a year-over-year basis. On average, equities research analysts forecast that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino announced that its Board of Directors has authorized a stock repurchase program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

NCNO has been the topic of a number of recent analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $38.00 target price on shares of nCino in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, April 3rd. Scotiabank reiterated a “sector perform” rating and issued a $19.00 target price (down previously from $35.00) on shares of nCino in a report on Wednesday, April 2nd. Raymond James decreased their price target on nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Finally, KeyCorp restated a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.60.

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.