nCino (NASDAQ:NCNO) CEO Sells $299,265.56 in Stock

Key Points

• nCino CEO Sean Desmond sold 16,589 shares on May 5 under a Rule 10b5-1 plan for $299,265.56, reducing his direct stake by about 1.3% to 1,262,492 shares (valued ~ $22.78M).
• The company recently beat estimates, reporting $0.37 EPS vs. $0.21 expected and revenue of $149.67M (up 5.9% year-over-year), with analysts projecting about $0.52 EPS for the fiscal year.
• Shares traded up 1.9% to $17.78 with a market cap of $1.93B and a 12-month range of $13.80–$33.92; MarketBeat shows a consensus rating of “Moderate Buy” and a $26.07 target price.

nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 16,589 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $18.04, for a total value of $299,265.56. Following the transaction, the chief executive officer directly owned 1,262,492 shares in the company, valued at approximately $22,775,355.68. This represents a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 4th, Sean Desmond sold 22,073 shares of nCino stock. The shares were sold at an average price of $18.02, for a total value of $397,755.46.
• 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 value 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 value of $96,262.25.

nCino Trading Up 1.9%

Shares of NCNO traded up $0.34 during mid-day trading on Thursday, reaching $17.78. 1,948,809 shares of the company's stock traded hands, compared to its average volume of 2,646,973. The stock has a market cap of $1.93 billion, a P/E ratio of 355.60 and a beta of 0.72. The stock's 50-day moving average is $16.55 and its two-hundred day moving average is $21.17. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $33.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.00 and a quick ratio of 1.00.

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

Institutional Trading of nCino

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. Vanguard Group Inc. grew its position in shares of nCino by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company's stock valued at $323,279,000 after acquiring an additional 201,499 shares during the period. Senvest Management LLC boosted its holdings in nCino by 68.6% in the 4th quarter. Senvest Management LLC now owns 4,078,276 shares of the company's stock worth $104,567,000 after buying an additional 1,658,868 shares during the last quarter. Spyglass Capital Management LLC boosted its holdings in nCino by 35.4% in the 4th quarter. Spyglass Capital Management LLC now owns 2,909,880 shares of the company's stock worth $74,609,000 after buying an additional 760,790 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in nCino by 25.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company's stock worth $73,357,000 after buying an additional 585,786 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in nCino by 475.1% in the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company's stock worth $68,146,000 after buying an additional 2,076,579 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wall Street Zen raised nCino from a "hold" rating to a "buy" rating in a research note on Saturday, April 4th. JPMorgan Chase & Co. dropped their price objective on nCino from $30.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 18th. Piper Sandler raised nCino from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $30.00 to $22.00 in a research note on Wednesday, April 1st. Citizens Jmp dropped their price objective on nCino from $41.00 to $32.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 1st. Finally, Morgan Stanley dropped their price objective on nCino from $36.00 to $21.00 and set an "overweight" rating on the stock in a research note on Monday, March 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, nCino has a consensus rating of "Moderate Buy" and a consensus target price of $26.07.

About nCino

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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