Sean Desmond Sells 12,339 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 12,339 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $23.00, for a total transaction of $283,797.00. Following the completion of the sale, the chief executive officer now directly owns 637,405 shares in the company, valued at $14,660,315. This trade represents a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, April 8th, Sean Desmond sold 2,301 shares of nCino stock. The shares were sold at an average price of $22.31, for a total value of $51,335.31.
• On Wednesday, April 2nd, Sean Desmond sold 7,880 shares of nCino stock. The shares were sold at an average price of $20.86, for a total value of $164,376.80.
• On Tuesday, February 4th, Sean Desmond sold 5,034 shares of nCino stock. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40.

nCino Stock Performance

Shares of nCino stock opened at $22.15 on Wednesday. The company has a 50 day moving average price of $25.84 and a 200 day moving average price of $32.49. The firm has a market capitalization of $2.55 billion, a P/E ratio of -130.29, a PEG ratio of 5.77 and a beta of 0.71. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The company had revenue of $141.37 million during the quarter, compared to analysts’ expectations of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS. Sell-side analysts expect that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its board has authorized a stock buyback plan on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NCNO. Stephens reissued an “equal weight” rating and set a $38.00 price target on shares of nCino in a research report on Wednesday, April 2nd. Truist Financial lowered shares of nCino from a “buy” rating to a “hold” rating and reduced their price target for the company from $44.00 to $21.00 in a report on Wednesday, April 2nd. Piper Sandler dropped their price objective on shares of nCino from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods lowered their target price on nCino from $40.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Finally, Morgan Stanley cut their price target on nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.40.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after buying an additional 344,269 shares during the period. Conestoga Capital Advisors LLC acquired a new stake in shares of nCino in the fourth quarter worth $70,256,000. Synovus Financial Corp purchased a new position in shares of nCino during the third quarter worth $656,000. Amundi lifted its position in nCino by 312.1% during the fourth quarter. Amundi now owns 6,004 shares of the company’s stock valued at $201,000 after purchasing an additional 4,547 shares during the period. Finally, Barclays PLC boosted its holdings in nCino by 22.2% in the third quarter. Barclays PLC now owns 73,014 shares of the company’s stock valued at $2,306,000 after purchasing an additional 13,252 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.