nCino, Inc. (NASDAQ:NCNO) CEO Sells $283,797.00 in Stock

nCino, Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 12,339 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $283,797.00. Following the completion of the transaction, the chief executive officer now directly owns 637,405 shares in the company, valued at approximately $14,660,315. This trade represents a 1.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, April 8th, Sean Desmond sold 2,301 shares of nCino stock. The shares were sold at an average price of $22.31, for a total value of $51,335.31.
• On Wednesday, April 2nd, Sean Desmond sold 7,880 shares of nCino stock. The shares were sold at an average price of $20.86, for a total transaction of $164,376.80.
• On Tuesday, February 4th, Sean Desmond sold 5,034 shares of nCino stock. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40.

nCino Price Performance

NASDAQ:NCNO traded up $0.94 during trading hours on Thursday, reaching $23.77. 2,517,884 shares of the company were exchanged, compared to its average volume of 1,422,391. The company has a market capitalization of $2.74 billion, a P/E ratio of -139.80, a P/E/G ratio of 5.77 and a beta of 0.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50 day moving average of $25.67 and a 200 day moving average of $32.43. nCino, Inc. has a 1-year low of $18.75 and a 1-year high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly 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). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The company had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. During the same quarter in the previous year, the business posted $0.21 EPS. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts forecast that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its board has authorized a stock repurchase plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NCNO. Franklin Resources Inc. grew its holdings in shares of nCino by 46.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company's stock valued at $38,327,000 after purchasing an additional 344,269 shares during the last quarter. Conestoga Capital Advisors LLC bought a new position in shares of nCino in the 4th quarter valued at $70,256,000. Synovus Financial Corp acquired a new stake in shares of nCino during the 3rd quarter valued at $656,000. Amundi grew its position in nCino by 312.1% during the 4th quarter. Amundi now owns 6,004 shares of the company's stock worth $201,000 after acquiring an additional 4,547 shares during the last quarter. Finally, Barclays PLC increased its holdings in nCino by 22.2% in the 3rd quarter. Barclays PLC now owns 73,014 shares of the company's stock worth $2,306,000 after purchasing an additional 13,252 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on NCNO shares. Needham & Company LLC lowered their price objective on shares of nCino from $45.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. William Blair cut nCino from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their target price on nCino from $40.00 to $28.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. UBS Group set a $40.00 price target on shares of nCino in a report on Friday, March 28th. Finally, KeyCorp restated a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, nCino currently has an average rating of "Hold" and an average target price of $30.40.

nCino Company Profile

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.