nCino (NASDAQ:NCNO) CEO Sean Desmond Sells 22,073 Shares

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 22,073 shares of the 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 $397,755.46. Following the completion of the sale, the chief executive officer owned 1,271,016 shares in the company, valued at $22,903,708.32. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 shares were sold at an average price of $16.75, for a total transaction of $96,262.25.

nCino Stock Down 0.2%

Shares of NASDAQ:NCNO opened at $17.96 on Wednesday. The company has a 50 day moving average price of $16.50 and a two-hundred day moving average price of $21.22. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $1.95 billion, a PE ratio of 359.20 and a beta of 0.72. nCino Inc. has a 52 week low of $13.80 and a 52 week 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 (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.16. nCino had a net margin of 0.87% and a return on equity of 4.75%. The company had revenue of $149.67 million during the quarter, compared to analyst estimates of $147.41 million. During the same quarter in the previous year, the business earned $0.12 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. Analysts forecast that nCino Inc. will post 0.52 earnings per share for the current year.

Institutional Trading of nCino

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC boosted its position in shares of 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 buying an additional 43,247 shares during the period. Woodline Partners LP raised its position in nCino by 105.3% in the 1st quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock valued at $363,000 after buying 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% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock valued at $7,731,000 after acquiring an additional 39,345 shares in the last quarter. Prudential Financial Inc. bought a new stake in nCino in the 2nd quarter valued at approximately $208,000. Finally, Marshall Wace LLP acquired a new position in nCino during the 2nd quarter worth approximately $4,163,000. 94.76% of the stock is currently owned by institutional investors.

Key Stories Impacting nCino

Here are the key news stories impacting nCino this week:

• Neutral Sentiment: CEO Sean Desmond sold 22,073 shares at an average price of $18.02 for roughly $397,755; his remaining stake is ~1,271,016 shares (1.71% ownership reduction). SEC Filing
• Neutral Sentiment: Director Pierre Naude sold 35,650 shares at $18.02 (~$642,413); his position fell about 3.12% to ~1,108,473 shares. SEC Filing
• Neutral Sentiment: CFO Gregory Orenstein sold 14,650 shares at $18.02 (~$263,993); his holding is ~702,293 shares (2.04% decrease). SEC Filing
• Neutral Sentiment: Insider April Rieger sold 9,693 shares at $18.02 (~$174,668); remaining stake ~383,601 shares (2.46% reduction). SEC Filing
• Neutral Sentiment: SVP Jeanette Sellers sold 1,486 shares at $18.02 (~$26,778) to cover taxes; post-sale holding ~54,571 shares (2.65% reduction). SEC Filing

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NCNO. Zacks Research upgraded nCino from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. The Goldman Sachs Group decreased their price objective on nCino from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Needham & Company LLC lowered their target price on nCino from $38.00 to $25.00 and set a “buy” rating for the company 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 target price for the stock from $30.00 to $22.00 in a report on Wednesday, April 1st. Finally, Barclays lifted 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 research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, nCino currently has a consensus rating of “Moderate Buy” and a consensus price target 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.