April Rieger Sells 7,881 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) insider April Rieger sold 7,881 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $164,397.66. Following the completion of the transaction, the insider now owns 138,072 shares in the company, valued at approximately $2,880,181.92. The trade was a 5.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

April Rieger also recently made the following trade(s):

• On Tuesday, February 4th, April Rieger sold 4,325 shares of nCino stock. The stock was sold at an average price of $32.60, for a total value of $140,995.00.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $21.45 on Monday. The company has a market capitalization of $2.48 billion, a P/E ratio of -126.17, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The company’s 50-day moving average is $30.58 and its 200 day moving average is $34.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $140.81 million. During the same period in the prior year, the firm posted $0.21 EPS. The business’s revenue was up 14.3% on a year-over-year basis. On average, equities research analysts forecast that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on NCNO shares. Raymond James decreased their price target on shares of nCino from $42.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. The Goldman Sachs Group downgraded shares of nCino from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $24.00 in a research report on Wednesday, April 2nd. Truist Financial downgraded nCino from a “buy” rating to a “hold” rating and cut their price target for the company from $44.00 to $21.00 in a research note on Wednesday, April 2nd. Needham & Company LLC lowered their price objective on nCino from $45.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Morgan Stanley dropped their target price on nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a report 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 data from MarketBeat.com, nCino has a consensus rating of “Hold” and an average price target of $30.33.

Institutional Trading of nCino

A number of large investors have recently bought and sold shares of NCNO. Fifth Third Bancorp purchased a new position in shares of nCino during the 4th quarter valued at $34,000. Hilltop National Bank purchased a new stake in nCino during the fourth quarter valued at about $37,000. Johnson Financial Group Inc. bought a new position in nCino during the fourth quarter worth about $57,000. Asset Management One Co. Ltd. boosted its position in nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after purchasing an additional 323 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of nCino by 32.9% in 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 during the period. 94.76% of the stock is 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.