Insider Selling: nCino, Inc. (NASDAQ:NCNO) CEO Sells $164,376.80 in Stock

nCino, Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 7,880 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,376.80. Following the completion of the sale, the chief executive officer now directly owns 298,597 shares of the company’s stock, valued at approximately $6,228,733.42. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 value of $164,108.40.

nCino Stock Down 1.2 %

NCNO stock opened at $21.45 on Monday. The company has a 50 day moving average of $30.58 and a two-hundred day moving average of $34.03. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -126.17, a PEG 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 company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share (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 firm had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same period in the previous year, the business posted $0.21 EPS. nCino’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities analysts anticipate that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its board has initiated a share buyback plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stephens reaffirmed an “equal weight” rating and set a $38.00 target price on shares of nCino in a research note on Wednesday, April 2nd. Bank of America lowered shares of nCino from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research report on Wednesday, April 2nd. Scotiabank reissued a “sector perform” rating and set a $19.00 target price (down from $35.00) on shares of nCino in a research note on Wednesday, April 2nd. Morgan Stanley decreased their price target on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 2nd. Finally, Piper Sandler cut their price objective on nCino from $38.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.33.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Franklin Resources Inc. boosted its holdings in nCino by 46.0% in the third 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 in the last quarter. Verition Fund Management LLC bought a new stake in shares of nCino during the 3rd quarter worth about $594,000. Charles Schwab Investment Management Inc. increased its holdings in shares of nCino by 51.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock valued at $17,588,000 after acquiring an additional 189,283 shares during the last quarter. Bullseye Asset Management LLC raised its stake in shares of nCino by 58.5% in the 3rd quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock valued at $4,451,000 after acquiring an additional 52,000 shares in the last quarter. Finally, Conestoga Capital Advisors LLC acquired a new stake in nCino in the 4th quarter worth approximately $70,256,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.