nCino Inc. (NASDAQ:NCNO) CEO Sells $262,147.50 in Stock

Key Points

• nCino Inc. CEO Sean Desmond sold 9,550 shares of the stock for a total of $262,147.50, reducing his ownership by 1.5% to 628,603 shares valued at over $17 million.
• The stock's current trading price is $26.95 with a market cap of $3.12 billion, and it has experienced a 52-week range of $18.75 to $43.20.
• Analysts have expressed a mixed outlook, with ten holding the stock and nine recommending a buy, resulting in a consensus rating of "Moderate Buy" with a target price of around $31.13.

nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 9,550 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $27.45, for a total value of $262,147.50. Following the completion of the sale, the chief executive officer owned 628,603 shares of the company's stock, valued at $17,255,152.35. The trade was a 1.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

nCino Price Performance

NASDAQ NCNO traded down $0.38 on Wednesday, hitting $26.95. 1,307,344 shares of the company's stock were exchanged, compared to its average volume of 1,403,239. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24. nCino Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of -103.65, a P/E/G ratio of 27.23 and a beta of 0.77. The stock has a 50-day moving average of $28.21 and a 200-day moving average of $28.02.

nCino (NASDAQ:NCNO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. The company had revenue of $144.14 million during the quarter, compared to analysts' expectations of $139.77 million. nCino had a negative net margin of 5.27% and a positive return on equity of 0.19%. The firm's revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. Analysts expect that nCino Inc. will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On nCino

A number of hedge funds and other institutional investors have recently bought and sold shares of NCNO. Wasatch Advisors LP increased its holdings in shares of nCino by 171.9% in the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock valued at $207,450,000 after acquiring an additional 3,905,802 shares during the last quarter. Invesco Ltd. increased its stake in shares of nCino by 3,006.0% in the fourth quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock worth $87,392,000 after purchasing an additional 2,518,707 shares during the period. T. Rowe Price Investment Management Inc. increased its position in nCino by 139.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock worth $108,834,000 after purchasing an additional 1,889,283 shares during the period. Capital International Investors grew its position in shares of nCino by 57.4% in the 4th quarter. Capital International Investors now owns 4,691,204 shares of the company's stock valued at $157,531,000 after acquiring an additional 1,710,893 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of nCino by 140.5% during the 4th quarter. Ameriprise Financial Inc. now owns 2,900,467 shares of the company's stock valued at $97,398,000 after acquiring an additional 1,694,218 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Scotiabank reissued a "sector perform" rating and issued a $26.00 target price (up previously from $19.00) on shares of nCino in a report on Wednesday, May 21st. Piper Sandler reiterated a "neutral" rating and set a $28.00 target price (up previously from $25.00) on shares of nCino in a research report on Thursday, May 29th. JMP Securities boosted their price target on nCino from $32.00 to $35.00 and gave the company a "market outperform" rating in a research note on Monday, June 9th. Bank of America raised their target price on nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. began coverage on shares of nCino in a research report on Wednesday, June 18th. They set a "neutral" rating and a $30.00 price objective for the company. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, nCino presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

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.

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