Gregory Orenstein Sells 14,650 Shares of nCino (NASDAQ:NCNO) Stock

Key Points

• CFO Gregory Orenstein sold 14,650 shares on May 4 at an average price of $18.02 for $263,993 to cover tax withholding, trimming his stake by 2.04% to 702,293 shares (valued at about $12.66M); the sale was disclosed in an SEC filing.
• nCino beat Q results, reporting $0.37 EPS vs. $0.21 expected and $149.67M revenue (up 5.9% YoY), while analysts maintain a consensus rating of "Moderate Buy" with a $26.07 price target amid several recent target cuts.

nCino Inc. (NASDAQ:NCNO - Get Free Report) CFO Gregory Orenstein sold 14,650 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $263,993.00. Following the transaction, the chief financial officer directly owned 702,293 shares in the company, valued at $12,655,319.86. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, April 2nd, Gregory Orenstein sold 8,840 shares of nCino stock. The shares were sold at an average price of $16.75, for a total value of $148,070.00.

nCino Stock Down 0.2%

NCNO stock traded down $0.03 during mid-day trading on Tuesday, hitting $17.96. The stock had a trading volume of 2,493,938 shares, compared to its average volume of 2,657,105. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92. The company has a fifty day moving average of $16.45 and a 200 day moving average of $21.26. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 359.20 and a beta of 0.72.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.16. nCino had a return on equity of 4.75% and a net margin of 0.87%.The company had revenue of $149.67 million for the quarter, compared to analyst estimates of $147.41 million. During the same period in the prior year, the firm posted $0.12 EPS. The business's revenue was up 5.9% compared to the same quarter last year. On average, equities analysts expect that nCino Inc. will post 0.52 EPS for the current fiscal year.

Institutional Trading of nCino

A number of hedge funds have recently modified their holdings of NCNO. Bank of America Corp DE lifted its position in shares of nCino by 475.1% in the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company's stock worth $68,146,000 after acquiring an additional 2,076,579 shares during the period. Millennium Management LLC lifted its position in shares of nCino by 262.8% in the 4th quarter. Millennium Management LLC now owns 2,341,532 shares of the company's stock worth $60,037,000 after acquiring an additional 1,696,051 shares during the period. Senvest Management LLC lifted its position in shares of nCino by 68.6% in the 4th quarter. Senvest Management LLC now owns 4,078,276 shares of the company's stock worth $104,567,000 after acquiring an additional 1,658,868 shares during the period. Wellington Management Group LLP bought a new stake in shares of nCino in the 3rd quarter worth approximately $36,962,000. Finally, Ophir Asset Management Pty Ltd bought a new stake in shares of nCino in the 4th quarter worth approximately $33,985,000. Institutional investors own 94.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NCNO shares. Piper Sandler raised nCino from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $30.00 to $22.00 in a report on Wednesday, April 1st. Truist Financial lowered their price objective on nCino from $27.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, April 1st. Wall Street Zen upgraded nCino from a "hold" rating to a "buy" rating in a research note on Saturday, April 4th. Morgan Stanley decreased their target price on nCino from $36.00 to $21.00 and set an "overweight" rating for the company in a research note on Monday, March 30th. Finally, The Goldman Sachs Group decreased their target price on nCino from $28.00 to $24.00 and set a "neutral" rating for the company in a research note 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, nCino presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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