nCino, Inc. (NASDAQ:NCNO) Insider Sean Desmond Sells 30,000 Shares

nCino, Inc. (NASDAQ:NCNO) insider Sean Desmond sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the transaction, the insider now directly owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

nCino Stock Performance

Shares of nCino stock opened at $36.22 on Friday. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of -116.84, a PEG ratio of 26.59 and a beta of 0.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. nCino, Inc. has a 1 year low of $27.13 and a 1 year high of $37.48. The firm’s 50-day moving average is $31.77 and its 200 day moving average is $31.57.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The firm had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same period in the prior year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Sell-side analysts anticipate that nCino, Inc. will post 0.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NCNO shares. Needham & Company LLC cut their price objective on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. William Blair reissued an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Tuesday, September 3rd. Macquarie reissued an “outperform” rating and set a $40.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Finally, Stephens reiterated an “equal weight” rating and set a $35.00 target price on shares of nCino in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.18.

Institutional Investors Weigh In On nCino

Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its position in nCino by 3.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock valued at $459,000 after purchasing an additional 508 shares in the last quarter. First Bank & Trust grew its stake in nCino by 5.7% in the 2nd quarter. First Bank & Trust now owns 10,188 shares of the company’s stock worth $320,000 after acquiring an additional 546 shares in the last quarter. Covestor Ltd increased its position in shares of nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after acquiring an additional 625 shares during the period. Mesirow Institutional Investment Management Inc. raised its holdings in shares of nCino by 6.1% in the first quarter. Mesirow Institutional Investment Management Inc. now owns 12,422 shares of the company’s stock valued at $464,000 after acquiring an additional 719 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of nCino by 8.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,084 shares of the company’s stock worth $377,000 after purchasing an additional 800 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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.