Pierre Naude Sells 31,123 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO - Get Free Report) Director Pierre Naude sold 31,123 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $649,225.78. Following the transaction, the director now owns 1,066,090 shares of the company's stock, valued at $22,238,637.40. This represents a 2.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pierre Naude also recently made the following trade(s):

• On Tuesday, February 4th, Pierre Naude sold 17,026 shares of nCino stock. The shares were sold at an average price of $32.60, for a total transaction of $555,047.60.

nCino Stock Up 10.8 %

nCino stock traded up $2.38 during midday trading on Wednesday, hitting $24.43. The stock had a trading volume of 3,984,329 shares, compared to its average volume of 1,349,863. The business has a fifty day moving average price of $29.44 and a 200 day moving average price of $33.72. 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, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The stock has a market cap of $2.84 billion, a P/E 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 issued its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. During the same period in the prior year, the company posted $0.21 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. Research analysts predict that nCino, Inc. will post 0.12 EPS for the current year.

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

Institutional Investors Weigh In On nCino

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP grew its position in shares of nCino by 171.9% in the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock valued at $207,450,000 after purchasing an additional 3,905,802 shares during the last quarter. Invesco Ltd. increased its stake in shares of nCino by 3,006.0% in the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock valued at $87,392,000 after buying an additional 2,518,707 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of nCino during the fourth quarter worth approximately $81,254,000. Conestoga Capital Advisors LLC bought a new stake in nCino in the fourth quarter valued at about $70,256,000. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of nCino by 139.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock valued at $108,834,000 after acquiring an additional 1,889,283 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stephens reaffirmed an "equal weight" rating and set a $38.00 price objective on shares of nCino in a research report on Wednesday, April 2nd. Barclays cut their price target on nCino from $44.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. UBS Group set a $40.00 price objective on nCino in a research note on Friday, March 28th. Keefe, Bruyette & Woods lowered their price target on shares of nCino from $40.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Finally, William Blair downgraded shares of nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. 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 MarketBeat, the stock currently has an average rating of "Hold" and a consensus 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.