April Rieger Sells 7,881 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO - Get Free Report) insider April Rieger sold 7,881 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $164,397.66. Following the transaction, the insider now directly owns 138,072 shares in the company, valued at $2,880,181.92. The trade was a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

April Rieger also recently made the following trade(s):

• On Tuesday, February 4th, April Rieger sold 4,325 shares of nCino stock. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00.

nCino Stock Up 10.8 %

Shares of NASDAQ:NCNO traded up $2.38 during trading hours on Wednesday, hitting $24.43. The company's stock had a trading volume of 3,984,329 shares, compared to its average volume of 1,349,863. 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 firm's fifty day moving average price is $29.44 and its 200 day moving average price is $33.72. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -143.70, a P/E/G ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO - Get Free Report) last posted its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). The company had revenue of $141.37 million during the quarter, compared to analysts' expectations of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. nCino's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. As a group, research analysts expect that nCino, Inc. will post 0.12 EPS for the current year.

nCino declared that its Board of Directors has approved a stock buyback plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

NCNO has been the topic of several analyst reports. KeyCorp reiterated a "sector weight" rating on shares of nCino in a research report on Monday, February 3rd. William Blair cut shares of nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. 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 report on Wednesday, April 2nd. The Goldman Sachs Group downgraded shares of nCino from a "buy" rating to a "neutral" rating and lowered their price target for the company from $42.00 to $24.00 in a report on Wednesday, April 2nd. Finally, Barclays dropped their price objective on shares of nCino from $44.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Ten equities research 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.33.

Institutional Trading of nCino

A number of institutional investors have recently bought and sold shares of NCNO. Charles Schwab Investment Management Inc. raised its position in 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 buying an additional 189,283 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of nCino by 16.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 23,884 shares of the company's stock valued at $754,000 after acquiring an additional 3,417 shares during the period. FMR LLC increased its position in shares of nCino by 2.4% in the third quarter. FMR LLC now owns 1,237,227 shares of the company's stock valued at $39,084,000 after buying an additional 29,501 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in nCino by 47.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,605 shares of the company's stock worth $398,000 after acquiring an additional 4,063 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of nCino by 17.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 144,757 shares of the company's stock worth $4,573,000 after purchasing an additional 21,576 shares during the last quarter. 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.