Insider Selling: nCino, Inc. (NASDAQ:NCNO) Insider Sells 7,881 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) insider April Rieger sold 7,881 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,397.66. Following the completion of the sale, the insider now directly owns 138,072 shares in the company, valued at approximately $2,880,181.92. The trade was a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, February 4th, April Rieger sold 4,325 shares of nCino stock. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00.

nCino Stock Down 1.2 %

NCNO opened at $21.45 on Monday. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $30.58 and its 200-day moving average price is $34.03. The company has a market cap of $2.48 billion, a P/E ratio of -126.17, a P/E/G ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The company had revenue of $141.37 million during the quarter, compared to analysts’ expectations of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. nCino’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. On average, equities analysts expect that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its Board of Directors has authorized a stock buyback plan on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NCNO shares. Piper Sandler decreased their price target on shares of nCino from $38.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price target on nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday. Truist Financial lowered nCino from a “buy” rating to a “hold” rating and cut their price objective for the stock from $44.00 to $21.00 in a report on Wednesday, April 2nd. William Blair downgraded shares of nCino from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Finally, Stephens reiterated an “equal weight” rating and set a $38.00 target price on shares of nCino in a research report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.33.

Institutional Investors Weigh In On nCino

Institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in shares of nCino during the fourth quarter valued at about $34,000. Hilltop National Bank purchased a new position in nCino during the 4th quarter valued at about $37,000. Johnson Financial Group Inc. purchased a new position in nCino during the 4th quarter valued at about $57,000. Asset Management One Co. Ltd. raised its position in 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 during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock worth $152,000 after buying an additional 1,122 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Company Profile

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.