nCino, Inc. (NASDAQ:NCNO) CEO Sells $164,376.80 in Stock

nCino, Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 7,880 shares of nCino stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $164,376.80. Following the sale, the chief executive officer now directly owns 298,597 shares in the company, valued at approximately $6,228,733.42. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, February 4th, Sean Desmond sold 5,034 shares of nCino stock. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40.

nCino Price Performance

Shares of NASDAQ NCNO traded up $2.38 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. nCino, Inc. has a 12-month low of $18.75 and a 12-month high of $43.20. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -143.70, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The stock has a 50 day moving average of $29.44 and a 200-day moving average of $33.72.

nCino (NASDAQ:NCNO - Get Free Report) last released its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). The firm 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 company posted $0.21 earnings per share. As a group, research analysts predict that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its board has approved a stock repurchase plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of nCino by 2,170.3% during the 1st quarter. GAMMA Investing LLC now owns 7,719 shares of the company's stock worth $212,000 after buying an additional 7,379 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of nCino by 5.4% in the fourth quarter. California State Teachers Retirement System now owns 85,835 shares of the company's stock valued at $2,882,000 after purchasing an additional 4,417 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in nCino in the 4th quarter valued at about $227,000. Public Employees Retirement System of Ohio increased its holdings in nCino by 30.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 160,216 shares of the company's stock worth $5,380,000 after purchasing an additional 37,260 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in nCino by 67.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 242,090 shares of the company's stock valued at $8,129,000 after acquiring an additional 97,333 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Analyst Ratings Changes

NCNO has been the topic of several research analyst reports. The Goldman Sachs Group downgraded nCino from a "buy" rating to a "neutral" rating and cut their price objective for the company from $42.00 to $24.00 in a report on Wednesday, April 2nd. UBS Group set a $40.00 target price on nCino in a report on Friday, March 28th. Keefe, Bruyette & Woods lowered their target price on shares of nCino from $40.00 to $28.00 and set an "outperform" rating for the company in a report on Thursday, April 3rd. Raymond James cut their price target on nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Finally, William Blair downgraded nCino from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $30.33.

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.