Insider Selling: nCino, Inc. (NASDAQ:NCNO) CFO Sells 2,356 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) CFO Gregory Orenstein sold 2,356 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total transaction of $52,562.36. Following the completion of the transaction, the chief financial officer now directly owns 329,735 shares of the company’s stock, valued at $7,356,387.85. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Gregory Orenstein also recently made the following trade(s):

• On Wednesday, April 2nd, Gregory Orenstein sold 12,101 shares of nCino stock. The stock was sold at an average price of $20.86, for a total value of $252,426.86.
• On Tuesday, February 4th, Gregory Orenstein sold 5,148 shares of nCino stock. The shares were sold at an average price of $32.60, for a total transaction of $167,824.80.

nCino Stock Down 4.2 %

Shares of NASDAQ NCNO traded down $1.03 during trading on Thursday, hitting $23.40. 3,313,042 shares of the company traded hands, compared to its average volume of 1,357,654. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The business’s fifty day moving average is $29.44 and its 200 day moving average is $33.72. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -137.64, a P/E/G ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results 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 analyst estimates of $140.81 million. During the same period in the previous year, the business posted $0.21 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts predict that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its board has authorized a share buyback program on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally 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 weighed in on NCNO shares. Raymond James lowered their target price on nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Bank of America increased their price target on shares of nCino from $22.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday. Piper Sandler decreased their target price on nCino from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Barclays lowered their price target on shares of nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Finally, Truist Financial lowered shares of nCino from a “buy” rating to a “hold” rating and dropped their price objective for the company from $44.00 to $21.00 in a report on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, nCino has a consensus rating of “Hold” and an average price target of $30.60.

Hedge Funds Weigh In On nCino

Several large investors have recently added to or reduced their stakes in NCNO. Franklin Resources Inc. increased its holdings in nCino by 46.0% during the 3rd 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 nCino during the third quarter worth $594,000. Conestoga Capital Advisors LLC purchased a new stake in nCino in the 4th quarter valued at $70,256,000. Synovus Financial Corp bought a new position in nCino during the 3rd quarter valued at $656,000. Finally, The Manufacturers Life Insurance Company lifted its stake in nCino by 16.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 23,884 shares of the company’s stock valued at $754,000 after acquiring an additional 3,417 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

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.