Insider Selling: nCino, Inc. (NASDAQ:NCNO) VP Sells 1,002 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) VP Jeanette Sellers sold 1,002 shares of the 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 transaction, the vice president now directly owns 21,600 shares in the company, valued at $450,576. The trade was a 4.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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 value of $15,256.80.

nCino Stock Down 1.2 %

nCino stock opened at $21.45 on Friday. The company’s 50-day moving average price is $30.58 and its two-hundred day moving average price is $34.00. The stock 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. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data 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 negative net margin of 3.46% and a positive return on equity of 1.62%. The firm had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. During the same quarter last year, the company earned $0.21 EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts expect that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino declared that its board has initiated 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 reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NCNO. Bank of America cut nCino from a “buy” rating to a “neutral” rating and set a $22.00 price objective on the stock. in a research note on Wednesday. Stephens restated an “equal weight” rating and issued a $38.00 price target on shares of nCino in a research report on Wednesday. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Morgan Stanley cut their target price on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $19.00 target price (down from $35.00) on shares of nCino in a report on Wednesday. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, nCino presently has an average rating of “Hold” and an average price target of $30.33.

Institutional Investors Weigh In On nCino

Institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp acquired a new stake in shares of nCino during the fourth quarter worth $34,000. Hilltop National Bank purchased a new stake in nCino during the fourth quarter valued at about $37,000. Johnson Financial Group Inc. acquired a new position in shares of nCino in the fourth quarter worth about $57,000. Asset Management One Co. Ltd. increased 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 worth $78,000 after acquiring an additional 323 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of nCino by 32.9% during 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 during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.