nCino, Inc. (NASDAQ:NCNO) VP Sells $53,796.51 in Stock

nCino, Inc. (NASDAQ:NCNO) VP Jeanette Sellers sold 2,501 shares of nCino stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $21.51, for a total value of $53,796.51. Following the completion of the sale, the vice president now directly owns 19,099 shares in the company, valued at approximately $410,819.49. This represents a 11.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, April 8th, Jeanette Sellers sold 228 shares of nCino stock. The stock was sold at an average price of $22.31, for a total value of $5,086.68.
• On Wednesday, April 2nd, Jeanette Sellers sold 1,002 shares of nCino stock. The stock was sold at an average price of $20.86, for a total value of $20,901.72.
• On Tuesday, February 4th, Jeanette Sellers sold 468 shares of nCino stock. The shares were sold at an average price of $32.60, for a total value of $15,256.80.

nCino Stock Down 4.2 %

Shares of NASDAQ:NCNO opened at $23.40 on Friday. nCino, Inc. has a 52-week low of $18.75 and a 52-week high of $43.20. The firm has a market capitalization of $2.72 billion, a P/E ratio of -137.64, a P/E/G ratio of 5.77 and a beta of 0.69. The stock has a 50 day moving average price of $29.25 and a 200-day moving average price of $33.67. 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 issued its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $140.81 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities research analysts anticipate that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino declared that its board has initiated a share buyback program on Tuesday, April 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On nCino

Institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its holdings in nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after purchasing an additional 344,269 shares during the period. Verition Fund Management LLC bought a new position in nCino in the 3rd quarter worth $594,000. Bullseye Asset Management LLC raised its holdings in nCino by 58.5% in the 3rd quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock worth $4,451,000 after purchasing an additional 52,000 shares during the period. Conestoga Capital Advisors LLC bought a new position in nCino in the 4th quarter worth $70,256,000. Finally, FMR LLC raised its holdings in nCino by 2.4% in the 3rd quarter. FMR LLC now owns 1,237,227 shares of the company’s stock worth $39,084,000 after purchasing an additional 29,501 shares during the period. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NCNO. Bank of America upped their target price on nCino from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday. Truist Financial cut nCino from a “buy” rating to a “hold” rating and lowered their target price for the stock from $44.00 to $21.00 in a report on Wednesday, April 2nd. Morgan Stanley decreased their price target on nCino from $39.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. Scotiabank restated a “sector perform” rating and set a $19.00 target price (down previously from $35.00) on shares of nCino in a research report on Wednesday, April 2nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $38.00 target price on shares of nCino in a research note on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, nCino presently has a consensus rating of “Hold” and a consensus target price of $30.60.

nCino Company Profile

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.