Insider Selling: nCino (NASDAQ:NCNO) Director Sells $642,413.00 in Stock

nCino Inc. (NASDAQ:NCNO) Director Pierre Naude sold 35,650 shares of nCino stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $642,413.00. Following the completion of the sale, the director directly owned 1,108,473 shares in the company, valued at approximately $19,974,683.46. This represents a 3.12% decrease in their position. The transaction was disclosed in a legal 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.

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

• On Thursday, April 2nd, Pierre Naude sold 22,700 shares of nCino stock. The stock was sold at an average price of $16.75, for a total value of $380,225.00.

nCino Price Performance

Shares of NASDAQ NCNO opened at $17.78 on Friday. The business’s 50 day moving average price is $16.60 and its two-hundred day moving average price is $21.13. The company has a market cap of $1.93 billion, a PE ratio of 355.60 and a beta of 0.72. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.25. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. The firm had revenue of $149.67 million for the quarter, compared to the consensus estimate of $147.41 million. nCino had a return on equity of 4.75% and a net margin of 0.87%.The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. On average, analysts predict that nCino Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On nCino

Several institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. Millennium Management LLC lifted its stake in nCino by 16.6% during the first quarter. Millennium Management LLC now owns 303,853 shares of the company’s stock worth $8,347,000 after purchasing an additional 43,247 shares during the last quarter. Woodline Partners LP lifted its stake in nCino by 105.3% during the first quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock worth $363,000 after purchasing an additional 6,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in nCino by 16.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock worth $7,731,000 after purchasing an additional 39,345 shares during the last quarter. Prudential Financial Inc. bought a new stake in nCino during the second quarter worth $208,000. Finally, Marshall Wace LLP bought a new stake in nCino during the second quarter worth $4,163,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NCNO. Weiss Ratings restated a “sell (d-)” rating on shares of nCino in a report on Thursday, January 22nd. Stephens cut their price target on nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. JPMorgan Chase & Co. cut their price target on nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Morgan Stanley cut their price target on nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Finally, Keefe, Bruyette & Woods cut their price target on nCino from $36.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.07.

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.