nCino, Inc. (NASDAQ:NCNO) CFO Sells $252,426.86 in Stock

nCino, Inc. (NASDAQ:NCNO) CFO Gregory Orenstein sold 12,101 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $252,426.86. Following the sale, the chief financial officer now directly owns 259,643 shares of the company’s stock, valued at approximately $5,416,152.98. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Gregory Orenstein also recently made the following trade(s):

• On Tuesday, February 4th, Gregory Orenstein sold 5,148 shares of nCino stock. The stock was sold at an average price of $32.60, for a total transaction of $167,824.80.

nCino Stock Down 1.2 %

NCNO stock opened at $21.45 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $2.48 billion, a P/E ratio of -126.17, a P/E/G ratio of 5.77 and a beta of 0.69. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The business has a 50-day moving average of $30.58 and a 200-day moving average of $33.97.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share 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 the consensus estimate of $140.81 million. During the same period in the prior year, the business earned $0.21 earnings per share. nCino’s revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts anticipate that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 1st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NCNO shares. Barclays reduced their price target on nCino from $44.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday. Truist Financial lowered nCino from a “buy” rating to a “hold” rating and cut their target price for the company from $44.00 to $21.00 in a research note on Wednesday. Bank of America lowered nCino from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a research report on Wednesday. Needham & Company LLC cut their price target on shares of nCino from $45.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley reduced their price objective on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.33.

Hedge Funds Weigh In On nCino

A number of large investors have recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in nCino by 46.0% during the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after acquiring an additional 344,269 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of nCino during the 3rd quarter worth approximately $594,000. Charles Schwab Investment Management Inc. raised its stake in shares of nCino by 51.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock worth $17,588,000 after purchasing an additional 189,283 shares in the last quarter. Bullseye Asset Management LLC boosted its holdings in shares of nCino by 58.5% in the 3rd quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock valued at $4,451,000 after buying an additional 52,000 shares during the last quarter. Finally, Conestoga Capital Advisors LLC bought a new position in shares of nCino in the fourth quarter valued at $70,256,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.