Gregory Orenstein Sells 12,101 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) CFO Gregory Orenstein sold 12,101 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $252,426.86. Following the sale, the chief financial officer now owns 259,643 shares in the company, valued at approximately $5,416,152.98. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Gregory Orenstein also recently made the following trade(s):

• On Tuesday, February 4th, Gregory Orenstein sold 5,148 shares of nCino stock. The shares were sold at an average price of $32.60, for a total value of $167,824.80.

nCino Price Performance

NASDAQ NCNO opened at $21.45 on Friday. The company has a current ratio of 1.95, a quick 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 stock has a market cap of $2.48 billion, a price-to-earnings ratio of -126.17, a PEG ratio of 5.77 and a beta of 0.69. The company’s 50 day moving average is $30.58 and its two-hundred day moving average is $34.00.

nCino (NASDAQ:NCNO) last released 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 firm had revenue of $141.37 million for the quarter, compared to analysts’ expectations of $140.81 million. During the same quarter last year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, research analysts anticipate that nCino, Inc. will post 0.12 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stephens restated an “equal weight” rating and set a $38.00 target price on shares of nCino in a research note on Wednesday. Keefe, Bruyette & Woods dropped their target price on shares of nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday. Truist Financial lowered shares of nCino from a “buy” rating to a “hold” rating and decreased their target price for the company from $44.00 to $21.00 in a research note on Wednesday. Needham & Company LLC dropped their price target on nCino from $45.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, KeyCorp reiterated a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, nCino has an average rating of “Hold” and a consensus price target of $30.33.

Hedge Funds Weigh In On nCino

Several large investors have recently modified their holdings of the stock. Fifth Third Bancorp purchased a new position in nCino during the fourth quarter worth $34,000. Hilltop National Bank bought a new stake in shares of nCino in the 4th quarter worth about $37,000. Johnson Financial Group Inc. purchased a new position in shares of nCino during the 4th quarter worth about $57,000. Asset Management One Co. Ltd. grew 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 valued at $78,000 after purchasing an additional 323 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised 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 worth $152,000 after purchasing an additional 1,122 shares during the period. Institutional investors own 94.76% of the company’s stock.

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.