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

nCino, Inc. (NASDAQ:NCNO - Get Free Report) CFO Gregory Orenstein sold 12,101 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $252,426.86. Following the completion of the transaction, 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 position. The transaction was disclosed in a 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 value of $167,824.80.

nCino Stock Performance

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. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The firm has a market cap of $2.84 billion, a P/E ratio of -143.70, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The company's 50 day simple moving average is $29.44 and its 200-day simple moving average is $33.72.

nCino (NASDAQ:NCNO - Get Free Report) last announced its quarterly 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 positive return on equity of 1.62% and a negative net margin of 3.46%. The company's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 earnings per share. Analysts forecast that nCino, Inc. will post 0.12 EPS for the current year.

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

Hedge Funds Weigh In On nCino

A number of large investors have recently modified their holdings of NCNO. Fifth Third Bancorp bought a new position in shares of nCino in the fourth quarter worth approximately $34,000. Hilltop National Bank purchased a new position in shares of nCino during the 4th quarter worth approximately $37,000. Johnson Financial Group Inc. bought a new position in shares of nCino in the 4th quarter worth approximately $57,000. Asset Management One Co. Ltd. lifted its stake in shares of nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after purchasing an additional 323 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position 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 purchasing an additional 1,122 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of nCino from $39.00 to $23.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. William Blair cut nCino from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Piper Sandler reduced their price objective on nCino from $38.00 to $28.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Truist Financial downgraded shares of nCino from a "buy" rating to a "hold" rating and decreased their target price for the stock from $44.00 to $21.00 in a research report on Wednesday, April 2nd. Finally, Raymond James lowered their price target on nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, nCino has an average rating of "Hold" and a consensus target price of $30.33.

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.