Insider Selling: nCino, Inc. (NASDAQ:NCNO) VP Sells 1,002 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) VP Jeanette Sellers sold 1,002 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $20,901.72. Following the completion of the transaction, the vice president now directly owns 21,600 shares of the company’s stock, valued at approximately $450,576. This represents a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Jeanette Sellers also recently made the following trade(s):

• On Tuesday, February 4th, Jeanette Sellers sold 468 shares of nCino stock. The stock was sold at an average price of $32.60, for a total transaction of $15,256.80.

nCino Price Performance

NCNO stock opened at $21.45 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20. The firm has a 50-day moving average of $30.58 and a 200 day moving average of $33.97. The company has a market cap of $2.48 billion, a P/E ratio of -126.17, a PEG ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO) last released its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The firm had revenue of $141.37 million during the quarter, compared to analysts’ expectations of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 EPS. On average, sell-side analysts forecast that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its board has authorized a stock repurchase program on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. California State Teachers Retirement System grew its stake in shares of nCino by 5.4% in the fourth quarter. California State Teachers Retirement System now owns 85,835 shares of the company’s stock worth $2,882,000 after acquiring an additional 4,417 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in nCino during the 4th quarter valued at about $227,000. Public Employees Retirement System of Ohio increased its stake in nCino by 30.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 160,216 shares of the company’s stock valued at $5,380,000 after purchasing an additional 37,260 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in nCino by 67.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 242,090 shares of the company’s stock valued at $8,129,000 after purchasing an additional 97,333 shares in the last quarter. Finally, Woodline Partners LP bought a new position in shares of nCino in the fourth quarter worth approximately $216,000. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays lowered their target price on nCino from $44.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday. Needham & Company LLC dropped their price objective on shares of nCino from $45.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday. UBS Group set a $40.00 target price on shares of nCino in a research report on Friday, March 28th. Raymond James lowered their price target on shares of nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Bank of America downgraded shares of nCino from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, nCino currently has an average rating of “Hold” and an average price target of $30.33.

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.