nCino, Inc. (NASDAQ:NCNO) Director Pierre Naude Sells 30,745 Shares

nCino, Inc. (NASDAQ:NCNO - Get Free Report) Director Pierre Naude sold 30,745 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.00, for a total value of $707,135.00. Following the sale, the director now owns 1,197,120 shares of the company's stock, valued at $27,533,760. The trade was a 2.50 % 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 link.

Pierre Naude also recently made the following trade(s):

• On Tuesday, April 8th, Pierre Naude sold 10,638 shares of nCino stock. The shares were sold at an average price of $22.31, for a total transaction of $237,333.78.
• On Wednesday, April 2nd, Pierre Naude sold 31,123 shares of nCino stock. The shares were sold at an average price of $20.86, for a total transaction of $649,225.78.
• On Tuesday, February 4th, Pierre Naude sold 17,026 shares of nCino stock. The shares were sold at an average price of $32.60, for a total value of $555,047.60.

nCino Stock Performance

NASDAQ NCNO traded up $0.94 on Thursday, hitting $23.77. 2,517,884 shares of the company traded hands, compared to its average volume of 1,422,391. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -139.80, 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. The business's 50 day moving average price is $25.67 and its 200-day moving average price is $32.43. nCino, Inc. has a 52-week low of $18.75 and a 52-week high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last released 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 firm had revenue of $141.37 million for the quarter, compared to analysts' expectations of $140.81 million. During the same period in the prior year, the firm posted $0.21 earnings per share. nCino's revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts expect that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino declared that its board has initiated a stock repurchase plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On nCino

A number of large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new position in nCino during the 4th quarter valued at approximately $34,000. Hilltop National Bank acquired a new stake in nCino in the fourth quarter valued at approximately $37,000. Johnson Financial Group Inc. purchased a new stake in nCino in the 4th quarter worth $57,000. Asset Management One Co. Ltd. increased its stake in shares of nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock worth $78,000 after purchasing an additional 323 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in 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. 94.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NCNO. Keefe, Bruyette & Woods lowered their price objective on nCino from $40.00 to $28.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. Piper Sandler reduced their price objective on shares of nCino from $28.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley dropped their target price on shares of nCino from $39.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 2nd. Scotiabank reissued a "sector perform" rating and issued a $19.00 price objective (down previously from $35.00) on shares of nCino in a research note on Wednesday, April 2nd. Finally, Stephens reaffirmed an "equal weight" rating and set a $38.00 target price on shares of nCino in a research report on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.