Pierre Naude Sells 10,638 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) Director Pierre Naude sold 10,638 shares of nCino stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total value of $237,333.78. Following the completion of the sale, the director now directly owns 1,055,452 shares of the company’s stock, valued at $23,547,134.12. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, April 2nd, Pierre Naude sold 31,123 shares of nCino stock. The shares were sold at an average price of $20.86, for a total value of $649,225.78.
• 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 transaction of $555,047.60.

nCino Stock Performance

Shares of nCino stock opened at $23.86 on Friday. The firm has a market capitalization of $2.78 billion, a P/E ratio of -140.34, a P/E/G ratio of 5.77 and a beta of 0.69. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The firm’s 50 day moving average is $29.08 and its two-hundred day moving average is $33.63.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, April 1st. The company reported $0.12 EPS 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 company had revenue of $141.37 million during the quarter, compared to analysts’ expectations of $140.81 million. During the same period last year, the business earned $0.21 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. Research analysts forecast that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino announced that its board has authorized a stock buyback plan on Tuesday, April 1st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

NCNO has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their price objective on shares of nCino from $40.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Scotiabank reaffirmed a “sector perform” rating and set a $19.00 price objective (down previously from $35.00) on shares of nCino in a research report on Wednesday, April 2nd. Stephens reiterated an “equal weight” rating and issued a $38.00 target price on shares of nCino in a report on Wednesday, April 2nd. Bank of America upped their price target on nCino from $22.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Morgan Stanley decreased their price objective on nCino from $39.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.60.

Institutional Trading of nCino

A number of large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in nCino by 16.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 23,884 shares of the company’s stock worth $754,000 after purchasing an additional 3,417 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of nCino by 17.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 144,757 shares of the company’s stock valued at $4,573,000 after buying an additional 21,576 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of nCino during the third quarter worth about $594,000. Centiva Capital LP purchased a new position in shares of nCino during the third quarter worth about $290,000. Finally, HighTower Advisors LLC increased its position in nCino by 11.4% in the 3rd quarter. HighTower Advisors LLC now owns 16,906 shares of the company’s stock valued at $531,000 after acquiring an additional 1,724 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

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.