nCino (NASDAQ:NCNO) Stock Price Down 4.2% – Time to Sell?

nCino Inc. (NASDAQ:NCNO) dropped 4.2% during mid-day trading on Thursday . The stock traded as low as $14.67 and last traded at $14.7560. Approximately 283,053 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,902,596 shares. The stock had previously closed at $15.41.

Wall Street Analyst Weigh In

NCNO has been the topic of a number of research reports. Barclays raised their target price on shares of nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Keefe, Bruyette & Woods reduced their target price on shares of nCino from $36.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. reduced their target price on shares of nCino from $30.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Finally, The Goldman Sachs Group reduced their target price on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.21.

nCino Trading Down 2.8%

The company has a market capitalization of $1.64 billion, a PE ratio of 125.21 and a beta of 0.69. The company’s fifty day moving average is $16.67 and its 200-day moving average is $19.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.16. The company had revenue of $149.67 million for the quarter, compared to analyst estimates of $147.41 million. nCino had a net margin of 2.17% and a return on equity of 6.85%. nCino’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. On average, analysts anticipate that nCino Inc. will post 0.68 EPS for the current fiscal year.

Insider Buying and Selling at nCino

In related news, insider April Rieger sold 9,693 shares of nCino stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $174,667.86. Following the transaction, the insider directly owned 383,601 shares of the company’s stock, valued at $6,912,490.02. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 14,650 shares of nCino stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $263,993.00. Following the transaction, the chief financial officer directly owned 702,293 shares in the company, valued at approximately $12,655,319.86. The trade was a 2.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 172,982 shares of company stock valued at $3,032,059. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On nCino

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in nCino by 1.7% in the third quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company’s stock worth $323,279,000 after purchasing an additional 201,499 shares during the last quarter. Cramer Rosenthal Mcglynn LLC grew its holdings in shares of nCino by 19.8% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 375,310 shares of the company’s stock valued at $10,175,000 after buying an additional 62,142 shares during the last quarter. Algebris UK Ltd. grew its holdings in shares of nCino by 266.2% during the fourth quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company’s stock valued at $26,493,000 after buying an additional 750,744 shares during the last quarter. Shannon River Fund Management LLC grew its holdings in shares of nCino by 27.4% during the third quarter. Shannon River Fund Management LLC now owns 1,578,896 shares of the company’s stock valued at $42,804,000 after buying an additional 339,863 shares during the last quarter. Finally, Tremblant Capital Group grew its holdings in shares of nCino by 40.3% during the third quarter. Tremblant Capital Group now owns 661,277 shares of the company’s stock valued at $17,927,000 after buying an additional 189,815 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.