Insider Selling: nCino (NASDAQ:NCNO) Insider Sells 9,693 Shares of Stock

Key Points

• Insider April Rieger sold 9,693 shares on May 4 at an average price of $18.02 for about $174,668 to cover tax withholding from vested equity awards, leaving her with 383,601 shares (a 2.46% reduction).
• nCino beat expectations last quarter with EPS of $0.37 versus $0.21 expected and revenue of $149.67 million, up 5.9% year-over-year.
• While several analysts have trimmed price targets recently, the consensus rating remains a Moderate Buy with an average price target of $26.07.

nCino Inc. (NASDAQ:NCNO - Get Free Report) insider April Rieger sold 9,693 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $174,667.86. Following the completion of the sale, the insider directly owned 383,601 shares of the company's stock, valued at approximately $6,912,490.02. This represents a 2.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

April Rieger also recently made the following trade(s):

• On Thursday, April 2nd, April Rieger sold 5,747 shares of nCino stock. The stock was sold at an average price of $16.75, for a total value of $96,262.25.

nCino Stock Down 0.2%

NASDAQ NCNO traded down $0.03 during trading on Tuesday, hitting $17.96. The company's stock had a trading volume of 2,493,938 shares, compared to its average volume of 2,657,105. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $1.95 billion, a PE ratio of 359.20 and a beta of 0.72. The business's 50 day simple moving average is $16.45 and its 200-day simple moving average is $21.26. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $33.92.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on NCNO shares. JPMorgan Chase & Co. decreased their target price on nCino from $30.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, February 18th. Needham & Company LLC decreased their price target on nCino from $38.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. Keefe, Bruyette & Woods decreased their price target on nCino from $36.00 to $24.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. Morgan Stanley decreased their price target on nCino from $36.00 to $21.00 and set an "overweight" rating for the company in a report on Monday, March 30th. Finally, Zacks Research raised nCino from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 31st. Two 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $26.07.

Institutional Trading of nCino

Large investors have recently added to or reduced their stakes in the stock. Ranger Investment Management L.P. grew its holdings in nCino by 48.2% in the 3rd quarter. Ranger Investment Management L.P. now owns 1,157,751 shares of the company's stock valued at $31,387,000 after buying an additional 376,506 shares in the last quarter. Vanguard Group Inc. grew its holdings in nCino by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company's stock valued at $323,279,000 after buying an additional 201,499 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in nCino in the 3rd quarter valued at $1,397,000. Cramer Rosenthal Mcglynn LLC grew its holdings in nCino by 19.8% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 375,310 shares of the company's stock valued at $10,175,000 after buying an additional 62,142 shares in the last quarter. Finally, Tremblant Capital Group grew its holdings in nCino by 40.3% in the 3rd quarter. Tremblant Capital Group now owns 661,277 shares of the company's stock valued at $17,927,000 after buying an additional 189,815 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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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