nCino, Inc. (NASDAQ:NCNO) CEO Sells $51,335.31 in Stock

nCino, Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 2,301 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $22.31, for a total value of $51,335.31. Following the completion of the transaction, the chief executive officer now directly owns 296,296 shares in the company, valued at approximately $6,610,363.76. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sean Desmond also recently made the following trade(s):

• On Wednesday, April 2nd, Sean Desmond sold 7,880 shares of nCino stock. The stock was sold at an average price of $20.86, for a total value of $164,376.80.
• On Tuesday, February 4th, Sean Desmond sold 5,034 shares of nCino stock. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40.

nCino Stock Performance

NCNO opened at $23.40 on Friday. The firm has a market capitalization of $2.72 billion, a PE ratio of -137.64, a P/E/G ratio of 5.77 and a beta of 0.69. 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 of $29.25 and a two-hundred day moving average of $33.67. 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 (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). The business had revenue of $141.37 million during the quarter, compared to analysts’ expectations of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. nCino’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 earnings per share. On average, analysts anticipate that nCino, Inc. will post 0.12 EPS for the current year.

nCino declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On nCino

A number of hedge funds and other institutional investors have recently made changes to their positions in NCNO. Wasatch Advisors LP grew its position in nCino by 171.9% during the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock valued at $207,450,000 after buying an additional 3,905,802 shares during the period. Invesco Ltd. boosted its stake in shares of nCino by 3,006.0% during the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company’s stock worth $87,392,000 after acquiring an additional 2,518,707 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of nCino during the 4th quarter valued at about $81,254,000. Conestoga Capital Advisors LLC purchased a new position in shares of nCino in the 4th quarter valued at about $70,256,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in nCino by 139.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company’s stock worth $108,834,000 after purchasing an additional 1,889,283 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analysts Set New Price Targets

NCNO has been the subject of several research reports. William Blair cut shares of nCino from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Morgan Stanley cut their price target on nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 2nd. Stephens restated an “equal weight” rating and set a $38.00 price objective on shares of nCino in a research note on Wednesday, April 2nd. Truist Financial lowered shares of nCino from a “buy” rating to a “hold” rating and decreased their price target for the company from $44.00 to $21.00 in a research report on Wednesday, April 2nd. Finally, UBS Group set a $40.00 price objective on shares of nCino in a research report on Friday, March 28th. 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, the stock currently has an average rating of “Hold” and a consensus price target 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.