Insider Selling: nCino (NASDAQ:NCNO) CEO Sells 15,440 Shares of Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 15,440 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.06, for a total transaction of $263,406.40. Following the completion of the sale, the chief executive officer directly owned 589,428 shares of the company’s stock, valued at $10,055,641.68. This trade represents a 2.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, April 2nd, Sean Desmond sold 5,747 shares of nCino stock. The shares were sold at an average price of $16.75, for a total transaction of $96,262.25.
• On Tuesday, February 3rd, Sean Desmond sold 16,047 shares of nCino stock. The shares were sold at an average price of $18.68, for a total transaction of $299,757.96.

nCino Trading Down 1.6%

Shares of nCino stock traded down $0.28 during trading on Wednesday, reaching $17.74. The company’s stock had a trading volume of 4,560,889 shares, compared to its average volume of 2,544,518. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $33.92. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 354.80, a PEG ratio of 3.35 and a beta of 0.61. The firm’s 50-day moving average is $16.65 and its two-hundred day moving average is $22.35. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 0.25.

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

Institutional Investors Weigh In On nCino

Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in nCino in the 4th quarter worth $3,982,000. Rockefeller Capital Management L.P. raised its holdings in nCino by 66.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 383,812 shares of the company’s stock worth $9,841,000 after purchasing an additional 153,162 shares in the last quarter. Alpine Global Management LLC bought a new position in nCino in the 4th quarter worth $206,000. Invesco Ltd. raised its holdings in nCino by 13.6% in the 4th quarter. Invesco Ltd. now owns 168,339 shares of the company’s stock worth $4,316,000 after purchasing an additional 20,102 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in nCino by 68.1% in the 4th quarter. XTX Topco Ltd now owns 82,508 shares of the company’s stock worth $2,116,000 after purchasing an additional 33,418 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NCNO. BTIG Research began coverage on shares of nCino in a research report on Tuesday, December 16th. They set a “neutral” rating for the company. UBS Group reissued a “buy” rating and set a $36.00 price target on shares of nCino in a research report on Tuesday, December 9th. Robert W. Baird dropped their price target on shares of nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Zacks Research raised shares of nCino from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. Finally, Barclays increased their price target on shares of nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, nCino presently has a consensus rating of “Moderate Buy” and a consensus target price 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.