Insider Selling: nCino (NASDAQ:NCNO) CEO Sells 22,073 Shares of Stock

Key Points

• nCino CEO Sean Desmond sold 22,073 shares on May 4 at an average of $18.02 for about $397,755 to cover tax withholding on vested equity, leaving him with 1,271,016 shares (a 1.71% ownership decline).
• nCino recently beat Q1 estimates (EPS $0.37 vs. $0.21; revenue $149.67M, +5.9% YoY); the stock trades near $17.96 with a $1.95B market cap, and analysts hold a consensus "Moderate Buy" with an average target of $26.07 amid mixed price-target revisions.

nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 22,073 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $397,755.46. Following the completion of the sale, the chief executive officer owned 1,271,016 shares in the company, valued at $22,903,708.32. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, April 6th, Sean Desmond sold 15,440 shares of nCino stock. The shares were sold at an average price of $17.06, for a total transaction of $263,406.40.
• On Thursday, April 2nd, Sean Desmond sold 5,747 shares of nCino stock. The shares were sold at an average price of $16.75, for a total transaction of $96,262.25.

nCino Price Performance

NCNO stock traded down $0.03 during 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's 50 day moving average price is $16.45 and its two-hundred day moving average price is $21.26. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 359.20 and a beta of 0.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NCNO. Millennium Management LLC increased its stake in shares of nCino by 16.6% during the 1st quarter. Millennium Management LLC now owns 303,853 shares of the company's stock valued at $8,347,000 after acquiring an additional 43,247 shares during the last quarter. Woodline Partners LP increased its stake in shares of nCino by 105.3% during the 1st quarter. Woodline Partners LP now owns 13,227 shares of the company's stock valued at $363,000 after acquiring an additional 6,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of nCino by 16.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company's stock valued at $7,731,000 after acquiring an additional 39,345 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of nCino during the 2nd quarter valued at about $208,000. Finally, Marshall Wace LLP acquired a new position in shares of nCino during the 2nd quarter valued at about $4,163,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NCNO shares. Wall Street Zen raised shares of nCino from a "hold" rating to a "buy" rating in a research note on Saturday, April 4th. Citizens Jmp cut their target price on shares of nCino from $41.00 to $32.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 1st. Truist Financial cut their target price on shares of nCino from $27.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, April 1st. Piper Sandler raised shares of nCino from a "neutral" rating to an "overweight" rating and cut their target price for the company from $30.00 to $22.00 in a research note on Wednesday, April 1st. Finally, Morgan Stanley dropped their price objective on shares of nCino from $36.00 to $21.00 and set an "overweight" rating for the company in a research note on Monday, March 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.07.

nCino Company Profile

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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