nCino Inc. (NASDAQ:NCNO) Director Pierre Naude Sells 4,659 Shares

Key Points

• nCino Inc. Director Pierre Naude sold 4,659 shares at an average price of $27.45, totaling approximately $127,890, which represents a 0.39% decrease in his ownership.
• The company reported earnings of $0.16 per share in its last quarter, meeting analysts' expectations and showing a 12.5% increase in quarterly revenue compared to the previous year.
• Brokerages have set new price targets for nCino, with Barclays raising its target to $31.00 and Keefe, Bruyette & Woods increasing theirs to $33.00, indicating a general positive outlook on the stock.

nCino Inc. (NASDAQ:NCNO - Get Free Report) Director Pierre Naude sold 4,659 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $27.45, for a total transaction of $127,889.55. Following the transaction, the director owned 1,192,461 shares of the company's stock, valued at $32,733,054.45. This trade represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

nCino Price Performance

Shares of NCNO traded down $0.38 during trading hours on Wednesday, reaching $26.95. 1,307,344 shares of the company's stock traded hands, compared to its average volume of 1,403,239. The stock has a market cap of $3.12 billion, a PE ratio of -103.65, a price-to-earnings-growth ratio of 27.23 and a beta of 0.77. 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 12 month low of $18.75 and a 12 month high of $43.20. The firm's 50 day simple moving average is $28.21 and its 200-day simple moving average is $28.02.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on NCNO. Barclays reissued an "overweight" rating and issued a $31.00 price target (up from $24.00) on shares of nCino in a report on Thursday, May 29th. UBS Group set a $28.00 target price on shares of nCino in a research note on Thursday, May 29th. Citigroup restated an "outperform" rating on shares of nCino in a report on Monday, June 9th. Keefe, Bruyette & Woods increased their price target on nCino from $28.00 to $33.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $35.00 price target (up previously from $32.00) on shares of nCino in a research report on Tuesday, July 29th. Ten investment 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. According to data from MarketBeat, nCino has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

Hedge Funds Weigh In On nCino

Several hedge funds have recently bought and sold shares of the business. CM Wealth Advisors LLC acquired a new stake in shares of nCino in the second quarter worth $307,000. Vestmark Advisory Solutions Inc. purchased a new stake in nCino during the second quarter worth approximately $423,000. Malaga Cove Capital LLC increased its stake in nCino by 24.7% in the second quarter. Malaga Cove Capital LLC now owns 45,151 shares of the company's stock valued at $1,263,000 after purchasing an additional 8,950 shares during the period. Nicholas Company Inc. increased its position in nCino by 11.5% during the 2nd quarter. Nicholas Company Inc. now owns 254,783 shares of the company's stock worth $7,126,000 after purchasing an additional 26,243 shares during the period. Finally, Pier Capital LLC acquired a new position in shares of nCino during the 2nd quarter worth $8,104,000. 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.

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