KLP Kapitalforvaltning AS Takes Position in nCino, Inc. (NASDAQ:NCNO)

KLP Kapitalforvaltning AS purchased a new position in nCino, Inc. (NASDAQ:NCNO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,100 shares of the company’s stock, valued at approximately $608,000.

Other hedge funds have also bought and sold shares of the company. Asset Management One Co. Ltd. boosted 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 valued at $78,000 after buying an additional 323 shares during the period. Victory Capital Management Inc. boosted its stake in nCino by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock valued at $407,000 after acquiring an additional 340 shares during the period. Berry Wealth Group LP grew its holdings in shares of nCino by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock valued at $276,000 after purchasing an additional 400 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of nCino by 2.2% during the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock worth $772,000 after purchasing an additional 500 shares during the period. Finally, Precision Wealth Strategies LLC lifted its holdings in shares of nCino by 5.3% in the 4th quarter. Precision Wealth Strategies LLC now owns 14,278 shares of the company’s stock worth $479,000 after purchasing an additional 714 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at nCino

In related news, insider April Rieger sold 4,325 shares of nCino stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00. Following the transaction, the insider now owns 145,953 shares of the company’s stock, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeff Horing sold 54,876 shares of nCino stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the transaction, the director now directly owns 4,458,591 shares in the company, valued at $156,050,685. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,877 shares of company stock worth $2,963,893 over the last three months. 28.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NCNO shares. UBS Group initiated coverage on nCino in a research note on Monday, December 16th. They issued a “buy” rating and a $44.00 target price on the stock. Barclays cut their price objective on shares of nCino from $44.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday. KeyCorp restated a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Robert W. Baird cut their price target on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Finally, Morgan Stanley decreased their price objective on nCino from $39.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.40.

nCino Trading Down 19.7 %

Shares of NCNO stock opened at $22.59 on Thursday. The company has a market capitalization of $2.62 billion, a PE ratio of -132.87, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 12-month low of $18.75 and a 12-month high of $43.20. The firm has a 50 day moving average price of $31.02 and a two-hundred day moving average price of $34.12.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The business had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. During the same period in the prior year, the business posted $0.21 EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts predict that nCino, Inc. will post 0.12 earnings per share for the current year.

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

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.