Insider Selling: nCino, Inc. (NASDAQ:NCNO) Insider Sells 5,009 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) insider Sean Desmond sold 5,009 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $30.63, for a total value of $153,425.67. Following the transaction, the insider now directly owns 381,974 shares in the company, valued at $11,699,863.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sean Desmond also recently made the following trade(s):

• On Monday, April 8th, Sean Desmond sold 2,362 shares of nCino stock. The shares were sold at an average price of $34.41, for a total transaction of $81,276.42.

nCino Stock Performance

Shares of NCNO stock traded up $0.67 during trading hours on Monday, reaching $30.87. 800,864 shares of the company’s stock were exchanged, compared to its average volume of 942,749. nCino, Inc. has a 1 year low of $21.32 and a 1 year high of $37.48. The company has a market cap of $3.53 billion, a P/E ratio of -81.32, a price-to-earnings-growth ratio of 25.04 and a beta of 0.57. The company’s 50 day moving average is $31.14 and its two-hundred day moving average is $30.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.17.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. The business had revenue of $123.69 million for the quarter, compared to analysts’ expectations of $124.58 million. nCino had a positive return on equity of 0.31% and a negative net margin of 8.89%. Equities research analysts anticipate that nCino, Inc. will post 0.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NCNO shares. Robert W. Baird increased their target price on shares of nCino from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. William Blair restated an “outperform” rating on shares of nCino in a research report on Wednesday, March 27th. Morgan Stanley upped their price target on shares of nCino from $27.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods assumed coverage on shares of nCino in a research report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 price target for the company. Finally, Piper Sandler restated an “overweight” rating and set a $42.00 price target on shares of nCino in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, nCino has a consensus rating of “Moderate Buy” and a consensus price target of $35.91.

Hedge Funds Weigh In On nCino

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in shares of nCino during the fourth quarter worth approximately $990,000. Barclays PLC increased its holdings in shares of nCino by 45.2% in the third quarter. Barclays PLC now owns 88,168 shares of the company’s stock valued at $2,804,000 after buying an additional 27,452 shares in the last quarter. Trexquant Investment LP bought a new position in shares of nCino in the third quarter valued at $1,161,000. Envestnet Asset Management Inc. increased its holdings in shares of nCino by 85.3% in the third quarter. Envestnet Asset Management Inc. now owns 139,997 shares of the company’s stock valued at $4,452,000 after buying an additional 64,446 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in shares of nCino in the third quarter valued at $3,171,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.