nCino, Inc. (NASDAQ:NCNO) Director Sells $649,225.78 in Stock

nCino, Inc. (NASDAQ:NCNO) Director Pierre Naude sold 31,123 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the sale, the director now owns 1,066,090 shares of the company’s stock, valued at approximately $22,238,637.40. This represents a 2.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Pierre Naude also recently made the following trade(s):

• On Tuesday, February 4th, Pierre Naude sold 17,026 shares of nCino stock. The stock was sold at an average price of $32.60, for a total value of $555,047.60.

nCino Price Performance

Shares of NASDAQ NCNO opened at $21.45 on Friday. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The business’s 50 day moving average price is $30.58 and its 200 day moving average price is $33.97. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a market cap of $2.48 billion, a P/E ratio of -126.17, a P/E/G ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $140.81 million. During the same period last year, the company earned $0.21 earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts expect that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino declared that its board has authorized a share buyback plan on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

NCNO has been the topic of several analyst reports. Raymond James cut their target price on nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods cut their price objective on shares of nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday. Barclays reduced their price objective on shares of nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday. Morgan Stanley lowered their target price on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, nCino currently has a consensus rating of “Hold” and an average price target of $30.33.

Hedge Funds Weigh In On nCino

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp acquired a new stake in nCino during the fourth quarter worth about $34,000. Hilltop National Bank acquired a new stake in shares of nCino during the 4th quarter worth approximately $37,000. Johnson Financial Group Inc. purchased a new position in shares of nCino during the 4th quarter valued at approximately $57,000. Asset Management One Co. Ltd. lifted its stake 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 purchasing an additional 323 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in nCino by 32.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock worth $152,000 after buying an additional 1,122 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.