Insider Selling: nCino (NASDAQ:NCNO) CEO Sells 8,064 Shares of Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $16.26, for a total value of $131,120.64. Following the completion of the sale, the chief executive officer directly owned 1,262,492 shares of the company’s stock, valued at $20,528,119.92. The trade was a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 5th, Sean Desmond sold 16,589 shares of nCino stock. The stock was sold at an average price of $18.04, for a total value of $299,265.56.
• On Monday, May 4th, Sean Desmond sold 22,073 shares of nCino stock. The stock was 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 stock was 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 stock was sold at an average price of $16.75, for a total value of $96,262.25.

nCino Stock Down 3.4%

Shares of NASDAQ NCNO traded down $0.53 on Friday, hitting $14.92. The company had a trading volume of 2,764,836 shares, compared to its average volume of 2,930,395. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92. The business has a 50 day moving average of $16.62 and a two-hundred day moving average of $19.70. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.63 billion, a P/E ratio of 124.33 and a beta of 0.69.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.16. nCino had a return on equity of 6.85% and a net margin of 2.17%.The company had revenue of $149.67 million during the quarter, compared to the consensus estimate of $147.41 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. As a group, equities research analysts forecast that nCino Inc. will post 0.61 earnings per share for the current fiscal year.

Institutional Trading of nCino

Institutional investors and hedge funds have recently bought and sold shares of the company. Ranger Investment Management L.P. raised its stake in nCino by 48.2% during the third quarter. Ranger Investment Management L.P. now owns 1,157,751 shares of the company’s stock valued at $31,387,000 after buying an additional 376,506 shares in the last quarter. Vanguard Group Inc. raised its stake in nCino by 1.7% during the third quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company’s stock valued at $323,279,000 after buying an additional 201,499 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its stake in nCino by 19.8% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 375,310 shares of the company’s stock valued at $10,175,000 after buying an additional 62,142 shares in the last quarter. Algebris UK Ltd. raised its stake in nCino by 266.2% during the fourth quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company’s stock valued at $26,493,000 after buying an additional 750,744 shares in the last quarter. Finally, Shannon River Fund Management LLC raised its stake in nCino by 27.4% during the third quarter. Shannon River Fund Management LLC now owns 1,578,896 shares of the company’s stock valued at $42,804,000 after buying an additional 339,863 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NCNO shares. Wall Street Zen raised nCino from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Zacks Research raised nCino from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Stephens reduced their price target on nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. The Goldman Sachs Group reduced their price target on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of nCino in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, nCino presently has an average rating of “Moderate Buy” and an average target price of $25.21.

nCino Company Profile

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.