Insider Selling: nCino, Inc. (NASDAQ:NCNO) CEO Sells 12,339 Shares of Stock

nCino, Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 12,339 shares of nCino stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $283,797.00. Following the completion of the sale, the chief executive officer now owns 637,405 shares of the company's stock, valued at $14,660,315. This trade represents a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 transaction of $51,335.31.
• On Wednesday, April 2nd, Sean Desmond sold 7,880 shares of nCino stock. The stock was 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 stock was sold at an average price of $32.60, for a total value of $164,108.40.

nCino Price Performance

NCNO stock traded up $0.16 during trading on Friday, hitting $23.93. The company had a trading volume of 2,206,382 shares, compared to its average volume of 1,436,864. The company has a fifty day moving average price of $25.42 and a two-hundred day moving average price of $32.21. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a market cap of $2.76 billion, a P/E ratio of -140.76, a P/E/G ratio of 5.77 and a beta of 0.71. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). The firm had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 EPS. Equities research analysts expect that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its board has authorized a stock buyback program on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

NCNO has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their price objective on nCino from $40.00 to $28.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. UBS Group set a $40.00 price target on shares of nCino in a research report on Friday, March 28th. Needham & Company LLC reduced their price objective on shares of nCino from $45.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Barclays lowered their target price on shares of nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Bank of America boosted their target price on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, April 10th. 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 has an average rating of "Hold" and a consensus price target of $30.40.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Asset Management One Co. Ltd. increased its holdings in nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after purchasing an additional 323 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of nCino by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock valued at $407,000 after buying an additional 340 shares in the last quarter. Berry Wealth Group LP raised its holdings in shares of nCino by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock valued at $276,000 after buying an additional 400 shares during the last quarter. Handelsbanken Fonder AB lifted its position in nCino by 2.2% during the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock worth $772,000 after buying an additional 500 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in nCino by 22.5% during the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock worth $80,000 after acquiring an additional 538 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

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.