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

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $16.26, for a total transaction of $131,120.64. Following the sale, the chief executive officer owned 1,262,492 shares in the company, valued at $20,528,119.92. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction 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 transaction 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 transaction 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 transaction of $96,262.25.

nCino Stock Down 3.4%

NCNO stock opened at $14.92 on Friday. The company’s 50 day moving average price is $16.62 and its 200 day moving average price is $19.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $33.92. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 124.33 and a beta of 0.69.

nCino (NASDAQ:NCNO) last released its 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. nCino had a net margin of 2.17% and a return on equity of 6.85%. The firm had revenue of $149.67 million for the quarter, compared to analyst estimates of $147.41 million. During the same period in the prior year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts anticipate that nCino Inc. will post 0.64 EPS for the current fiscal year.

Analyst Ratings Changes

NCNO has been the topic of several recent analyst reports. Truist Financial dropped their price target on shares of nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Keefe, Bruyette & Woods dropped their price target on shares of nCino from $36.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Piper Sandler upgraded shares of nCino from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $30.00 to $22.00 in a research note on Wednesday, April 1st. Citizens Jmp dropped their price target on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Monday, May 18th. Finally, Barclays increased their price target on shares of nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.21.

Hedge Funds Weigh In On nCino

A number of hedge funds have recently modified their holdings of NCNO. CWM LLC grew its position in shares of nCino by 255.8% during the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after acquiring an additional 821 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of nCino during the first quarter worth approximately $32,000. AlphaQuest LLC grew its position in shares of nCino by 5,022.2% during the third quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock worth $37,000 after acquiring an additional 1,356 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of nCino during the fourth quarter worth approximately $38,000. Finally, Farther Finance Advisors LLC grew its position in shares of nCino by 76.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after acquiring an additional 722 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Company Profile

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.