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

nCino, Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 7,880 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $164,376.80. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Stock Performance

NCNO opened at $21.45 on Friday. nCino, Inc. has a 1-year low of $18.75 and a 1-year high of $43.20. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -126.17, a PEG ratio of 5.77 and a beta of 0.69. The company’s fifty day moving average price is $30.58 and its two-hundred day moving average price is $33.97. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

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

nCino declared that its Board of Directors has initiated a stock buyback plan on Tuesday, April 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On nCino

Institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP lifted its stake in nCino by 171.9% during the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock valued at $207,450,000 after acquiring an additional 3,905,802 shares in the last quarter. Invesco Ltd. lifted its position in shares of nCino by 3,006.0% during the fourth quarter. Invesco Ltd. now owns 2,602,497 shares of the company’s stock valued at $87,392,000 after purchasing an additional 2,518,707 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in nCino during the fourth quarter worth about $81,254,000. Conestoga Capital Advisors LLC bought a new stake in nCino in the 4th quarter worth about $70,256,000. Finally, T. Rowe Price Investment Management Inc. increased its stake in nCino by 139.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company’s stock valued at $108,834,000 after buying an additional 1,889,283 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC cut their price objective on nCino from $45.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial lowered shares of nCino from a “buy” rating to a “hold” rating and reduced their price objective for the company from $44.00 to $21.00 in a research note on Wednesday. Keefe, Bruyette & Woods dropped their target price on shares of nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Finally, Stephens reissued an “equal weight” rating and issued a $38.00 price objective on shares of nCino in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.