nCino, Inc. (NASDAQ:NCNO) Director Sells $707,135.00 in Stock

nCino, Inc. (NASDAQ:NCNO) Director Pierre Naude sold 30,745 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $707,135.00. Following the completion of the transaction, the director now owns 1,197,120 shares in the company, valued at approximately $27,533,760. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, April 8th, Pierre Naude sold 10,638 shares of nCino stock. The shares were sold at an average price of $22.31, for a total value of $237,333.78.
• On Wednesday, April 2nd, Pierre Naude sold 31,123 shares of nCino stock. The shares were sold at an average price of $20.86, for a total value of $649,225.78.
• 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 transaction of $555,047.60.

nCino Trading Up 3.0 %

Shares of nCino stock opened at $22.81 on Thursday. The firm has a market cap of $2.63 billion, a PE ratio of -134.15, a P/E/G ratio of 5.77 and a beta of 0.71. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a fifty day moving average price of $25.67 and a 200-day moving average price of $32.43.

nCino (NASDAQ:NCNO) last posted 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). The company had revenue of $141.37 million for the quarter, compared to analysts’ expectations of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Equities research analysts anticipate that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its board has initiated a share buyback program on Tuesday, April 1st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of nCino

Several hedge funds have recently made changes to their positions in NCNO. Fifth Third Bancorp purchased a new stake in nCino in the 4th quarter worth about $34,000. Hilltop National Bank purchased a new position in shares of nCino in the fourth quarter worth about $37,000. Johnson Financial Group Inc. bought a new stake in shares of nCino in the fourth quarter valued at approximately $57,000. Asset Management One Co. Ltd. lifted its stake in shares of 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 in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in nCino by 22.5% in the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company’s stock worth $80,000 after buying an additional 538 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on NCNO. Bank of America lifted their price target on shares of nCino from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, April 10th. KeyCorp reiterated a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Piper Sandler cut their target price on nCino from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group lowered shares of nCino from a “buy” rating to a “neutral” rating and decreased their price target for the company from $42.00 to $24.00 in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of nCino from $40.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.40.

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.