April Rieger Sells 7,881 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) insider April Rieger sold 7,881 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $164,397.66. Following the completion of the sale, the insider now directly owns 138,072 shares in the company, valued at $2,880,181.92. This trade represents a 5.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

April Rieger also recently made the following trade(s):

• On Tuesday, February 4th, April Rieger sold 4,325 shares of nCino stock. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00.

nCino Price Performance

NCNO opened at $21.45 on Friday. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20. The company’s 50 day simple moving average is $30.58 and its 200 day simple moving average is $33.97. The stock has a market capitalization of $2.48 billion, a PE ratio of -126.17, a P/E/G ratio of 5.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

nCino (NASDAQ:NCNO) last announced its quarterly 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 negative net margin of 3.46% and a positive return on equity of 1.62%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS. As a group, sell-side analysts expect that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its Board of Directors has approved a stock buyback program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Barclays dropped their price target on nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday. Truist Financial cut nCino from a “buy” rating to a “hold” rating and cut their price target for the stock from $44.00 to $21.00 in a report on Wednesday. Finally, UBS Group set a $40.00 price objective on nCino in a research note on Friday, March 28th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, nCino presently has a consensus rating of “Hold” and a consensus price target of $30.33.

Hedge Funds Weigh In On nCino

Large investors have recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of nCino by 46.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after purchasing an additional 344,269 shares during the period. Verition Fund Management LLC acquired a new position in nCino during the third quarter valued at approximately $594,000. Charles Schwab Investment Management Inc. grew its stake in nCino by 51.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock worth $17,588,000 after buying an additional 189,283 shares during the period. Bullseye Asset Management LLC increased its position in shares of nCino by 58.5% in the third quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock worth $4,451,000 after acquiring an additional 52,000 shares in the last quarter. Finally, Conestoga Capital Advisors LLC purchased a new position in shares of nCino in the 4th quarter valued at $70,256,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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.