Jeanette Sellers Sells 1,002 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) VP Jeanette Sellers sold 1,002 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $20,901.72. Following the completion of the sale, the vice president now owns 21,600 shares in the company, valued at approximately $450,576. This trade represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Jeanette Sellers also recently made the following trade(s):

• On Tuesday, February 4th, Jeanette Sellers sold 468 shares of nCino stock. The stock was sold at an average price of $32.60, for a total transaction of $15,256.80.

nCino Trading Down 1.2 %

Shares of NASDAQ:NCNO opened at $21.45 on Monday. The company’s fifty day simple moving average is $30.58 and its 200 day simple moving average is $34.03. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The firm 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 has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino (NASDAQ:NCNO) last released 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). nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The business had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. During the same period last year, the business posted $0.21 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts forecast that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino declared that its board has approved a stock buyback plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Fifth Third Bancorp acquired a new stake in nCino during the 4th quarter worth approximately $34,000. Hilltop National Bank bought a new position in nCino during the 4th quarter worth $37,000. Johnson Financial Group Inc. acquired a new stake in shares of nCino during the fourth quarter worth $57,000. Asset Management One Co. Ltd. boosted its position in shares of nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after acquiring an additional 323 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of nCino by 32.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after acquiring an additional 1,122 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NCNO. KeyCorp restated a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Scotiabank restated a “sector perform” rating and issued a $19.00 target price (down from $35.00) on shares of nCino in a report on Wednesday, April 2nd. Truist Financial downgraded nCino from a “buy” rating to a “hold” rating and reduced their target price for the company from $44.00 to $21.00 in a report on Wednesday, April 2nd. Barclays cut their price objective on nCino from $44.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Finally, Morgan Stanley decreased their target price on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently 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.