Insider Selling: nCino, Inc. (NASDAQ:NCNO) CEO Sells $283,797.00 in Stock

nCino, Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 12,339 shares of nCino stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $283,797.00. Following the sale, the chief executive officer now directly owns 637,405 shares of the company’s stock, valued at $14,660,315. This trade represents a 1.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, April 8th, Sean Desmond sold 2,301 shares of nCino stock. The stock was sold at an average price of $22.31, for a total value of $51,335.31.
• On Wednesday, April 2nd, Sean Desmond sold 7,880 shares of nCino stock. The shares were sold at an average price of $20.86, for a total transaction 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

NASDAQ NCNO opened at $22.81 on Thursday. nCino, Inc. has a 1-year low of $18.75 and a 1-year high of $43.20. The company has a 50 day moving average of $25.67 and a 200-day moving average of $32.43. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -134.15, a PEG ratio of 5.77 and a beta of 0.71.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share (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 the consensus estimate of $140.81 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts forecast that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp bought a new position in nCino in the fourth quarter valued at 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. bought a new stake in shares of nCino during the fourth quarter worth approximately $57,000. Asset Management One Co. Ltd. lifted its holdings in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after buying an additional 323 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in nCino by 22.5% in the first quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company’s stock valued at $80,000 after acquiring an additional 538 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NCNO has been the topic of a number of analyst reports. Stephens reissued an “equal weight” rating and set a $38.00 price objective on shares of nCino in a report on Wednesday, April 2nd. Scotiabank reiterated a “sector perform” rating and issued a $19.00 target price (down from $35.00) on shares of nCino in a research note on Wednesday, April 2nd. William Blair cut shares of nCino from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Bank of America lifted their price objective on nCino from $22.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, April 10th. Finally, Keefe, Bruyette & Woods dropped their price target on nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, April 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.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.40.

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.