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

by · The Cerbat Gem

nCino, Inc. (NASDAQ:NCNO – Get Free Report) insider Sean Desmond sold 30,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the transaction, the insider now owns 341,511 shares in the company, valued at approximately $11,874,337.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

nCino Stock Performance

Shares of NASDAQ:NCNO traded up $1.01 during midday trading on Wednesday, reaching $36.06. 3,368,345 shares of the company’s stock traded hands, compared to its average volume of 1,061,488. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino, Inc. has a one year low of $27.13 and a one year high of $37.48. The company has a market cap of $4.15 billion, a price-to-earnings ratio of -113.06, a P/E/G ratio of 26.59 and a beta of 0.59. The stock has a 50 day moving average of $31.60 and a 200 day moving average of $31.51.

nCino (NASDAQ:NCNO – Get Free Report) 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 negative net margin of 5.78% and a positive return on equity of 1.06%. The firm had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same quarter last year, the firm posted ($0.02) EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts anticipate that nCino, Inc. will post 0.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NCNO has been the subject of a number of recent analyst reports. Stephens restated an “equal weight” rating and set a $35.00 target price on shares of nCino in a report on Wednesday, August 28th. Macquarie reaffirmed an “outperform” rating and set a $40.00 target price on shares of nCino in a research note on Wednesday, August 28th. Needham & Company LLC reduced their price target on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $42.00 in a report on Wednesday, August 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 target price on shares of nCino in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.18.

Get Our Latest Research Report on NCNO

Hedge Funds Weigh In On nCino

Several hedge funds and other institutional investors have recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in shares of nCino during the 2nd quarter worth $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in nCino during the first quarter valued at $52,000. Covestor Ltd lifted its position in nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after purchasing an additional 625 shares in the last quarter. Amalgamated Bank raised its stake in shares of nCino by 28.1% in the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after buying an additional 1,134 shares during the period. Finally, Lazard Asset Management LLC lifted its position in shares of nCino by 145.6% during the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock valued at $168,000 after buying an additional 2,677 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

nCino Company Profile

(Get Free Report)

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.

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