Sean Desmond Sells 7,880 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 7,880 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,376.80. Following the completion of the sale, the chief executive officer now directly owns 298,597 shares of the company’s stock, valued at $6,228,733.42. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, February 4th, Sean Desmond sold 5,034 shares of nCino stock. The shares were sold at an average price of $32.60, for a total value of $164,108.40.

nCino Price Performance

nCino stock opened at $21.45 on Friday. The firm has a market capitalization of $2.48 billion, a P/E ratio of -126.17, a PEG ratio of 5.77 and a beta of 0.69. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The business has a fifty day moving average price of $30.58 and a 200-day moving average price of $34.00.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). The company had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. As a group, equities research analysts forecast that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its board has authorized a share buyback program on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Trading of nCino

A number of hedge funds and other institutional investors have recently bought and sold shares of NCNO. Asset Management One Co. Ltd. grew its position in shares of nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after purchasing an additional 323 shares in the last quarter. Victory Capital Management Inc. increased its stake in nCino by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock worth $407,000 after acquiring an additional 340 shares during the last quarter. Berry Wealth Group LP increased its stake in nCino by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock worth $276,000 after acquiring an additional 400 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of nCino by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock valued at $772,000 after acquiring an additional 500 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of nCino by 1.2% during the 4th quarter. Sterling Capital Management LLC now owns 48,945 shares of the company’s stock valued at $1,644,000 after acquiring an additional 583 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group set a $40.00 price objective on nCino in a research report on Friday, March 28th. Raymond James reduced their price target on shares of nCino from $42.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on shares of nCino from $40.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday. KeyCorp reiterated a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Finally, Stephens restated an “equal weight” rating and set a $38.00 price target on shares of nCino in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, nCino currently has an average rating of “Hold” and an average target price of $30.33.

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.