Insider Selling: nCino, Inc. (NASDAQ:NCNO) Director Sells 31,123 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) Director Pierre Naude sold 31,123 shares of nCino stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $649,225.78. Following the completion of the transaction, the director now owns 1,066,090 shares of the company’s stock, valued at approximately $22,238,637.40. This trade represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

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

nCino Stock Up 1.3 %

Shares of NASDAQ NCNO opened at $21.72 on Tuesday. The stock has a market capitalization of $2.52 billion, a P/E ratio of -127.76, a PEG ratio of 5.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20. The firm’s 50 day simple moving average is $30.34 and its two-hundred day simple moving average is $33.97.

nCino (NASDAQ:NCNO) last released its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). The business had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. nCino’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS. As a group, analysts expect that nCino, Inc. will post 0.12 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on NCNO shares. Keefe, Bruyette & Woods cut their price objective on shares of nCino from $40.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, April 3rd. Piper Sandler cut their price target on shares of nCino from $38.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Raymond James decreased their price target on shares of nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. Scotiabank reissued a “sector perform” rating and set a $19.00 price objective (down previously from $35.00) on shares of nCino in a research note on Wednesday, April 2nd. Finally, Barclays decreased their target price on nCino from $44.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.33.

Hedge Funds Weigh In On nCino

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp bought a new stake in nCino in the fourth quarter valued at approximately $34,000. Hilltop National Bank purchased a new position in shares of nCino in the fourth quarter worth $37,000. Johnson Financial Group Inc. purchased a new position in shares of nCino in the fourth quarter worth $57,000. Asset Management One Co. Ltd. raised its holdings in nCino by 16.5% during the 4th 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 last quarter. Finally, PNC Financial Services Group Inc. boosted its position in nCino by 32.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after buying an additional 1,122 shares during the period. 94.76% of the stock is currently owned by institutional investors.

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.