Pierre Naude Sells 10,638 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) Director Pierre Naude sold 10,638 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total value of $237,333.78. Following the transaction, the director now owns 1,055,452 shares in the company, valued at $23,547,134.12. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, April 2nd, Pierre Naude sold 31,123 shares of nCino stock. The shares were sold at an average price of $20.86, for a total transaction of $649,225.78.
• 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 value of $555,047.60.

nCino Stock Down 4.2 %

Shares of NCNO traded down $1.03 during mid-day trading on Thursday, reaching $23.40. 3,313,042 shares of the stock traded hands, compared to its average volume of 1,357,654. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -137.64, a P/E/G ratio of 5.77 and a beta of 0.69. The stock has a fifty day simple moving average of $29.44 and a 200 day simple moving average of $33.72. The company has a quick ratio of 1.95, a current 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.

nCino (NASDAQ:NCNO) last issued its 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 company had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. Sell-side analysts expect that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino declared that its board has approved a stock buyback plan on Tuesday, April 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in shares of nCino by 46.0% during the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after acquiring an additional 344,269 shares during the period. Verition Fund Management LLC bought a new stake in nCino during the 3rd quarter valued at approximately $594,000. Conestoga Capital Advisors LLC bought a new position in shares of nCino during the 4th quarter worth about $70,256,000. Synovus Financial Corp acquired a new position in shares of nCino in the third quarter valued at $656,000. Finally, The Manufacturers Life Insurance Company grew its position in nCino by 16.7% in the third quarter. The Manufacturers Life Insurance Company now owns 23,884 shares of the company’s stock valued at $754,000 after acquiring an additional 3,417 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NCNO. Truist Financial downgraded shares of nCino from a “buy” rating to a “hold” rating and decreased their price target for the stock from $44.00 to $21.00 in a research note on Wednesday, April 2nd. Stephens reissued an “equal weight” rating and set a $38.00 price target on shares of nCino in a research report on Wednesday, April 2nd. The Goldman Sachs Group downgraded shares of nCino from a “buy” rating to a “neutral” rating and cut their price target for the stock from $42.00 to $24.00 in a report on Wednesday, April 2nd. Barclays lowered their price objective on nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Finally, KeyCorp restated a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.60.

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.