nCino (NASDAQ:NCNO) CEO Sean Desmond Sells 8,064 Shares of Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of nCino stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $16.26, for a total value of $131,120.64. Following the sale, the chief executive officer directly owned 1,262,492 shares of the company’s stock, valued at approximately $20,528,119.92. This represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sean Desmond also recently made the following trade(s):

• On Tuesday, May 5th, Sean Desmond sold 16,589 shares of nCino stock. The stock was sold at an average price of $18.04, for a total value of $299,265.56.
• On Monday, May 4th, Sean Desmond sold 22,073 shares of nCino stock. The stock was sold at an average price of $18.02, for a total value of $397,755.46.
• On Monday, April 6th, Sean Desmond sold 15,440 shares of nCino stock. The stock was sold at an average price of $17.06, for a total value of $263,406.40.
• On Thursday, April 2nd, Sean Desmond sold 5,747 shares of nCino stock. The stock was sold at an average price of $16.75, for a total value of $96,262.25.

nCino Stock Performance

Shares of NCNO opened at $14.92 on Friday. The stock has a 50-day moving average of $16.62 and a two-hundred day moving average of $19.67. nCino Inc. has a one year low of $13.80 and a one year high of $33.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $1.63 billion, a P/E ratio of 124.33 and a beta of 0.69.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. The business had revenue of $149.67 million during the quarter, compared to analyst estimates of $147.41 million. nCino had a return on equity of 6.85% and a net margin of 2.17%.The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. As a group, research analysts predict that nCino Inc. will post 0.61 EPS for the current year.

Hedge Funds Weigh In On nCino

Several institutional investors and hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC increased its stake in shares of nCino by 15.9% in the 4th quarter. FNY Investment Advisers LLC now owns 3,228 shares of the company’s stock valued at $82,000 after purchasing an additional 444 shares in the last quarter. US Bancorp DE increased its stake in shares of nCino by 1.6% in the 3rd quarter. US Bancorp DE now owns 32,042 shares of the company’s stock valued at $869,000 after purchasing an additional 501 shares in the last quarter. Lecap Asset Management Ltd. increased its stake in shares of nCino by 2.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 31,163 shares of the company’s stock valued at $799,000 after purchasing an additional 691 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of nCino by 76.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock valued at $43,000 after purchasing an additional 722 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of nCino by 1.2% in the 3rd quarter. Captrust Financial Advisors now owns 62,747 shares of the company’s stock valued at $1,701,000 after purchasing an additional 743 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

NCNO has been the subject of a number of recent research reports. Piper Sandler upgraded nCino from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $30.00 to $22.00 in a research note on Wednesday, April 1st. Keefe, Bruyette & Woods reduced their price objective on nCino from $36.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of nCino in a research note on Thursday, May 28th. Stephens reduced their price objective on nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Finally, Robert W. Baird reduced their price objective on nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Two 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, nCino presently has an average rating of “Moderate Buy” and a consensus target price of $25.21.

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.