Insider Selling: nCino (NASDAQ:NCNO) CEO Sells 8,064 Shares of Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $16.26, for a total value of $131,120.64. Following the sale, the chief executive officer owned 1,262,492 shares in the company, valued at $20,528,119.92. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 5th, Sean Desmond sold 16,589 shares of nCino stock. The stock was sold at an average price of $18.04, for a total value of $299,265.56.
• On Monday, May 4th, Sean Desmond sold 22,073 shares of nCino stock. The stock was sold at an average price of $18.02, for a total value of $397,755.46.
• 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 value 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 value of $96,262.25.

nCino Stock Performance

Shares of nCino stock traded down $0.53 on Friday, reaching $14.92. 2,764,836 shares of the company were exchanged, compared to its average volume of 2,930,395. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The company’s 50-day moving average is $16.62 and its two-hundred day moving average is $19.70. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 124.33 and a beta of 0.69. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. The business had revenue of $149.67 million for the quarter, compared to analysts’ expectations of $147.41 million. nCino had a return on equity of 6.85% and a net margin of 2.17%.The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS. As a group, research analysts expect that nCino Inc. will post 0.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citizens Jmp lowered their target price on nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, May 18th. Wall Street Zen upgraded nCino from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of nCino in a research report on Thursday, May 28th. Robert W. Baird lowered their target price on nCino from $34.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Finally, Barclays raised their target price on nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and an average price target of $25.21.

Hedge Funds Weigh In On nCino

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. Hawk Ridge Capital Management LP boosted its stake in nCino by 625.4% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after purchasing an additional 3,864,010 shares in the last quarter. Bank of America Corp DE boosted its stake in nCino by 475.1% during the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock valued at $68,146,000 after purchasing an additional 2,076,579 shares in the last quarter. Millennium Management LLC boosted its stake in nCino by 262.8% during the 4th quarter. Millennium Management LLC now owns 2,341,532 shares of the company’s stock valued at $60,037,000 after purchasing an additional 1,696,051 shares in the last quarter. Senvest Management LLC boosted its stake in nCino by 68.6% during the 4th quarter. Senvest Management LLC now owns 4,078,276 shares of the company’s stock valued at $104,567,000 after purchasing an additional 1,658,868 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in nCino during the 3rd quarter valued at $36,962,000. 94.76% of the stock is owned by institutional investors.

nCino Company Profile

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.