nCino, Inc. (NASDAQ:NCNO) CEO Sean Desmond Sells 7,880 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 7,880 shares of the company’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 transaction of $164,376.80. Following the completion of the transaction, the chief executive officer now owns 298,597 shares of the company’s stock, valued at approximately $6,228,733.42. This trade represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

NCNO stock opened at $21.45 on Friday. 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 company’s 50-day moving average is $30.58 and its 200-day moving average is $34.00. The stock has a market capitalization of $2.48 billion, a PE ratio of -126.17, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20.

nCino (NASDAQ:NCNO) last announced its quarterly 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 firm had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS. Equities research analysts expect that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino announced that its Board of Directors has approved a share buyback plan on Tuesday, April 1st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire 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 stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NCNO shares. Raymond James reduced 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. William Blair cut nCino from an “outperform” rating to a “market perform” rating in a report on Wednesday. Needham & Company LLC lowered their price target on shares of nCino from $45.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday. Morgan Stanley dropped their price target on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Stephens reiterated an “equal weight” rating and set a $38.00 price objective on shares of nCino in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, nCino presently has a consensus rating of “Hold” and a consensus price target of $30.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NCNO. Wasatch Advisors LP grew its holdings in shares of nCino by 171.9% during the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock valued at $207,450,000 after buying an additional 3,905,802 shares during the last quarter. Invesco Ltd. boosted its stake in nCino by 3,006.0% during the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company’s stock valued at $87,392,000 after purchasing an additional 2,518,707 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in nCino during the 4th quarter worth approximately $81,254,000. Conestoga Capital Advisors LLC purchased a new stake in shares of nCino in the fourth quarter worth approximately $70,256,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of nCino by 139.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company’s stock valued at $108,834,000 after purchasing an additional 1,889,283 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.