Trexquant Investment LP Has $3.49 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Trexquant Investment LP increased its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 63.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 103,907 shares of the company’s stock after buying an additional 40,153 shares during the period. Trexquant Investment LP’s holdings in nCino were worth $3,489,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp bought a new position in shares of nCino in the fourth quarter worth about $34,000. Hilltop National Bank bought a new position in nCino in the 4th quarter worth approximately $37,000. Asset Management One Co. Ltd. lifted its holdings in nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after buying an additional 323 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after buying an additional 1,122 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of nCino in the 3rd quarter valued at $189,000. Institutional investors own 94.76% of the company’s stock.

Insider Activity at nCino

In other nCino news, insider April Rieger sold 4,325 shares of nCino stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the sale, the insider now directly owns 145,953 shares in the company, valued at approximately $4,758,067.80. The trade was a 2.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gregory Orenstein sold 12,101 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $252,426.86. Following the transaction, the chief financial officer now owns 259,643 shares of the company’s stock, valued at approximately $5,416,152.98. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,988 shares of company stock valued at $2,294,561. 28.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NCNO. Keefe, Bruyette & Woods cut their price target on nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday. Morgan Stanley reduced their target price on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 2nd. Barclays dropped their price target on shares of nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Raymond James reduced their price objective on shares of nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Finally, Needham & Company LLC dropped their target price on shares of nCino from $45.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, nCino has a consensus rating of “Hold” and an average price target of $30.33.

nCino Stock Performance

Shares of NCNO opened at $21.45 on Monday. The firm has a market cap of $2.48 billion, a P/E ratio of -126.17, a PEG ratio of 5.77 and a beta of 0.69. nCino, Inc. has a twelve month low of $18.75 and a twelve month 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. The firm’s 50 day moving average price is $30.58 and its two-hundred day moving average price is $34.03.

nCino (NASDAQ:NCNO) last announced 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). The company had revenue of $141.37 million during the quarter, compared to analyst estimates 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 for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. On average, analysts forecast that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino declared that its board has authorized a stock buyback program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.