Insider Selling: nCino (NASDAQ:NCNO) Insider Sells $174,667.86 in Stock

nCino Inc. (NASDAQ:NCNO) insider April Rieger sold 9,693 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $174,667.86. Following the transaction, the insider owned 383,601 shares of the company’s stock, valued at $6,912,490.02. This represents a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

April Rieger also recently made the following trade(s):

• On Thursday, April 2nd, April Rieger 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 Stock Up 1.9%

nCino stock opened at $17.78 on Friday. The company has a 50-day simple moving average of $16.60 and a 200-day simple moving average of $21.13. The firm has a market capitalization of $1.93 billion, a P/E ratio of 355.60 and a beta of 0.72. 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 Inc. has a one year low of $13.80 and a one year high of $33.92.

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

Hedge Funds Weigh In On nCino

Several large investors have recently made changes to their positions in NCNO. Bank of America Corp DE lifted its stake in nCino by 475.1% during the third quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock valued at $68,146,000 after buying an additional 2,076,579 shares in the last quarter. Millennium Management LLC lifted its stake in nCino by 262.8% during the fourth quarter. Millennium Management LLC now owns 2,341,532 shares of the company’s stock valued at $60,037,000 after buying an additional 1,696,051 shares in the last quarter. Senvest Management LLC lifted its stake in nCino by 68.6% during the fourth quarter. Senvest Management LLC now owns 4,078,276 shares of the company’s stock valued at $104,567,000 after buying an additional 1,658,868 shares in the last quarter. Wellington Management Group LLP purchased a new stake in nCino during the third quarter valued at about $36,962,000. Finally, Ophir Asset Management Pty Ltd purchased a new stake in nCino during the fourth quarter valued at about $33,985,000. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NCNO shares. JPMorgan Chase & Co. lowered their price target on shares of nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Citizens Jmp decreased their target price on shares of nCino from $41.00 to $32.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 1st. Truist Financial decreased their target price on shares of nCino from $27.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Piper Sandler upgraded shares of nCino from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $30.00 to $22.00 in a research report on Wednesday, April 1st. Finally, Keefe, Bruyette & Woods decreased their target price on shares of nCino from $36.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and an average price target of $26.07.

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.