Sean Desmond Sells 22,073 Shares of nCino (NASDAQ:NCNO) Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 22,073 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $397,755.46. Following the sale, the chief executive officer directly owned 1,271,016 shares of the company’s stock, valued at approximately $22,903,708.32. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, April 6th, Sean Desmond sold 15,440 shares of nCino stock. The stock was sold at an average price of $17.06, for a total transaction of $263,406.40.
• On Thursday, April 2nd, Sean Desmond sold 5,747 shares of nCino stock. The stock was sold at an average price of $16.75, for a total transaction of $96,262.25.

nCino Trading Down 0.2%

NCNO traded down $0.03 on Tuesday, reaching $17.96. 2,493,938 shares of the company’s stock were exchanged, compared to its average volume of 2,657,105. The company’s 50 day moving average is $16.45 and its 200-day moving average is $21.26. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 359.20 and a beta of 0.72. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. The firm had revenue of $149.67 million during the quarter, compared to the consensus estimate of $147.41 million. nCino had a net margin of 0.87% and a return on equity of 4.75%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. Equities analysts predict that nCino Inc. will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NCNO shares. Keefe, Bruyette & Woods decreased their price target on nCino from $36.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Piper Sandler upgraded nCino from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $30.00 to $22.00 in a report on Wednesday, April 1st. JPMorgan Chase & Co. decreased their price target on nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Stephens decreased their price target on nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Finally, Citizens Jmp decreased their price target on nCino from $41.00 to $32.00 and set a “market outperform” rating for the company in a report on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, nCino has a consensus rating of “Moderate Buy” and an average price target of $26.07.

Hedge Funds Weigh In On nCino

Several institutional investors and hedge funds have recently made changes to their positions in NCNO. Farther Finance Advisors LLC boosted its stake in shares of nCino by 186.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock valued at $26,000 after buying an additional 617 shares during the last quarter. CWM LLC boosted its stake in shares of nCino by 255.8% during the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after buying an additional 821 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of nCino by 5,022.2% during the 3rd quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock valued at $37,000 after buying an additional 1,356 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of nCino during the 4th quarter valued at approximately $38,000. Finally, Quarry LP boosted its stake in shares of nCino by 138.2% during the 3rd quarter. Quarry LP now owns 1,701 shares of the company’s stock valued at $46,000 after buying an additional 987 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.