Gregory Orenstein Sells 4,155 Shares of nCino Inc. (NASDAQ:NCNO) Stock

Key Points

• Gregory Orenstein, the CFO of nCino Inc., sold 4,155 shares of the company's stock at an average price of $27.45, totaling approximately $114,054.75, which decreased his ownership by 0.88%.
• nCino's stock price currently trades at $26.95, a drop of 1.4%, with a market cap of $3.12 billion and a PE ratio of -103.65.
• Recent analyst reports have upgraded nCino's price target, with JMP Securities setting it at $35.00, while the consensus price target stands at $31.13, indicating a "Moderate Buy" rating.

nCino Inc. (NASDAQ:NCNO - Get Free Report) CFO Gregory Orenstein sold 4,155 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $27.45, for a total transaction of $114,054.75. Following the completion of the sale, the chief financial officer directly owned 466,099 shares in the company, valued at $12,794,417.55. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

nCino Trading Down 1.4%

Shares of NASDAQ:NCNO traded down $0.38 during mid-day trading on Wednesday, reaching $26.95. The stock had a trading volume of 1,307,344 shares, compared to its average volume of 1,403,239. The firm has a 50 day simple moving average of $28.21 and a two-hundred day simple moving average of $28.02. nCino Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24. The firm has a market cap of $3.12 billion, a PE ratio of -103.65, a price-to-earnings-growth ratio of 27.23 and a beta of 0.77.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The firm had revenue of $144.14 million during the quarter, compared to the consensus estimate of $139.77 million. During the same period last year, the company earned $0.19 earnings per share. The business's revenue was up 12.5% compared to the same quarter last year. On average, research analysts predict that nCino Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NCNO. JMP Securities boosted their price target on nCino from $32.00 to $35.00 and gave the company a "market outperform" rating in a report on Monday, June 9th. Scotiabank reaffirmed a "sector perform" rating and set a $26.00 target price (up from $19.00) on shares of nCino in a research note on Wednesday, May 21st. Truist Financial upped their price target on nCino from $21.00 to $27.00 and gave the company a "hold" rating in a research report on Thursday, May 29th. Piper Sandler restated a "neutral" rating and set a $28.00 price target (up from $25.00) on shares of nCino in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. assumed coverage on nCino in a research report on Wednesday, June 18th. They set a "neutral" rating and a $30.00 target price on the stock. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $31.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hilltop National Bank purchased a new position in shares of nCino during the second quarter valued at approximately $42,000. Johnson Financial Group Inc. bought a new stake in nCino in the 4th quarter worth about $57,000. Covestor Ltd increased its stake in nCino by 27.6% in the 1st quarter. Covestor Ltd now owns 2,388 shares of the company's stock valued at $66,000 after buying an additional 517 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of 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 last quarter. Finally, FNY Investment Advisers LLC bought a new position in nCino in the 1st quarter valued at $82,000. 94.76% of the stock is owned by institutional investors and hedge funds.

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.

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