2 weeks Ago By ABMN Staff
Envestnet Asset Management Inc. lowered its stake in shares of nCino, Inc. ( NASDAQ:NCNO – Free Report ) by 0.
7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 385,435 shares of the company’s stock after selling 2,726 shares during the quarter. Envestnet Asset Management Inc.
’s holdings in nCino were worth $12,943,000 as of its most recent SEC filing. Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co.
MA bought a new stake in shares of nCino in the 4th quarter worth $81,254,000. Conestoga Capital Advisors LLC purchased a new position in nCino during the fourth quarter worth about $70,256,000. Raymond James Financial Inc.
bought a new stake in nCino in the 4th quarter worth about $39,334,000. Vanguard Group Inc. increased its stake in nCino by 9.
6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock valued at $363,697,000 after buying an additional 948,282 shares during the last quarter.
Finally, Norges Bank bought a new position in shares of nCino during the 4th quarter worth approximately $29,268,000. 94.76% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling In other nCino news, CEO Sean Desmond sold 2,301 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $22.31, for a total value of $51,335.
31. Following the sale, the chief executive officer now owns 296,296 shares of the company’s stock, valued at $6,610,363.76.
This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link .
Also, Director Pierre Naude sold 17,026 shares of the business’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 $555,047.
60. Following the transaction, the director now directly owns 1,097,213 shares of the company’s stock, valued at $35,769,143.80.
The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here .
Over the last quarter, insiders have sold 110,012 shares of company stock worth $2,694,676. Corporate insiders own 28.40% of the company’s stock.
nCino Trading Down 0.4 % nCino ( NASDAQ:NCNO – Get Free Report ) last posted its earnings results on Tuesday, April 1st. The company reported $0.
12 earnings per share (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 during the quarter, compared to analysts’ expectations of $140.81 million.
During the same quarter in the prior year, the company earned $0.21 earnings per share. The business’s revenue for the quarter was up 14.
3% compared to the same quarter last year. On average, equities analysts forecast that nCino, Inc. will post 0.
12 EPS for the current fiscal year. nCino announced that its board has authorized a share buyback plan on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares.
This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their target price on nCino from $39.00 to $23.
00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. Stephens restated an “equal weight” rating and issued a $38.00 price objective on shares of nCino in a research note on Wednesday, April 2nd.
Bank of America raised their target price on nCino from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, April 10th.
The Goldman Sachs Group downgraded shares of nCino from a “buy” rating to a “neutral” rating and cut their price target for the stock from $42.00 to $24.00 in a report on Wednesday, April 2nd.
Finally, Keefe, Bruyette & Woods decreased their price objective on shares of nCino from $40.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd.
Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, nCino has a consensus rating of “Hold” and an average price target of $30.60.
View Our Latest Research Report on NCNO nCino Company Profile ( Free Report ) 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. Read More Want to see what other hedge funds are holding NCNO? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for nCino, Inc. ( NASDAQ:NCNO – Free Report ). Receive News & Ratings for nCino Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nCino and related companies with MarketBeat.
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