Insider Selling: nCino (NASDAQ:NCNO) CEO Sells $131,120.64 in Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $16.26, for a total transaction of $131,120.64. Following the transaction, the chief executive officer owned 1,262,492 shares of the company’s stock, valued at $20,528,119.92. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 shares were sold at an average price of $18.04, for a total transaction of $299,265.56.
• 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 transaction 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 transaction 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 transaction of $96,262.25.

nCino Stock Performance

NASDAQ:NCNO opened at $14.92 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $16.62 and a two-hundred day moving average price of $19.63. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92. The company 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 posted its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.16. nCino had a net margin of 2.17% and a return on equity of 6.85%. The firm had revenue of $149.67 million during the quarter, compared to the consensus estimate of $147.41 million. During the same period last year, the firm posted $0.12 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, research analysts expect that nCino Inc. will post 0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On nCino

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

Wall Street Analyst Weigh In

Several research firms have weighed in on NCNO. JPMorgan Chase & Co. dropped their target price on shares of nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Citizens Jmp lowered their price target on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a report on Monday, May 18th. Stephens lowered their price target on shares of nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Finally, Morgan Stanley lowered their price target on shares of nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, March 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, nCino has a consensus 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.