nCino, Inc. (NASDAQ:NCNO) Insider April Rieger Sells 7,881 Shares

nCino, Inc. (NASDAQ:NCNO) insider April Rieger sold 7,881 shares of nCino stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $164,397.66. Following the transaction, the insider now owns 138,072 shares of the company’s stock, valued at $2,880,181.92. This represents a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 value of $140,995.00.

nCino Stock Down 1.2 %

Shares of NASDAQ:NCNO opened at $21.45 on Friday. The stock has a 50-day simple moving average of $30.58 and a 200-day simple moving average of $34.00. The stock 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 1 year low of $18.75 and a 1 year high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

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

nCino announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

NCNO has been the topic of a number of analyst reports. Piper Sandler decreased their price objective on nCino from $38.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday. UBS Group set a $40.00 price target on shares of nCino in a report on Friday, March 28th. Raymond James reduced their price objective on shares of nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday. Morgan Stanley decreased their target price on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Bank of America downgraded nCino from a “buy” rating to a “neutral” rating and set a $22.00 price target for the company. in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, nCino presently has a consensus rating of “Hold” and an average target price of $30.33.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of nCino by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock worth $363,697,000 after buying an additional 948,282 shares during the period. Wasatch Advisors LP lifted its position in nCino by 171.9% during the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock worth $207,450,000 after acquiring an additional 3,905,802 shares in the last quarter. Capital International Investors boosted its holdings in nCino by 57.4% in the 4th quarter. Capital International Investors now owns 4,691,204 shares of the company’s stock worth $157,531,000 after acquiring an additional 1,710,893 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings 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 worth $108,834,000 after acquiring an additional 1,889,283 shares during the period. Finally, Soma Equity Partners LP grew its position in nCino by 5.7% in the fourth quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company’s stock valued at $97,976,000 after acquiring an additional 156,238 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.