Key Points
- nCino CEO Sean Desmond sold 8,064 shares on June 3 at an average price of $16.26, totaling about $131,121. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and Desmond still owned about 1.26 million shares afterward.
- The stock was trading lower, opening at $14.92 and sitting near its 50-day average of $16.62, well below its 200-day average of $19.67. nCino’s market cap was about $1.63 billion, and the shares were near the lower end of their 52-week range.
- nCino recently beat earnings expectations, reporting $0.37 EPS versus the $0.21 consensus and revenue of $149.67 million, up 5.9% year over year. Analysts currently rate the stock a Moderate Buy with a consensus price target of $25.21.
nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 8,064 shares of nCino stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $16.26, for a total value of $131,120.64. Following the completion of the transaction, the chief executive officer 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were 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 Trading Down 3.4%
Shares of nCino stock opened at $14.92 on Friday. The stock has a market cap of $1.63 billion, a P/E ratio of 124.33 and a beta of 0.69. The stock's 50 day simple moving average is $16.62 and its 200-day simple moving average is $19.67. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89.
nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.16. The business had revenue of $149.67 million for the quarter, compared to analysts' expectations of $147.41 million. nCino had a return on equity of 6.85% and a net margin of 2.17%.The business's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS. Analysts predict that nCino Inc. will post 0.61 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Optiver Holding B.V. acquired a new position in nCino in the first quarter valued at approximately $32,000. Essential Partners LLC lifted its holdings in nCino by 9,400.0% in the first quarter. Essential Partners LLC now owns 3,800 shares of the company's stock valued at $57,000 after acquiring an additional 3,760 shares during the last quarter. Edgestream Partners L.P. acquired a new position in nCino in the first quarter valued at approximately $3,377,000. Janus Henderson Group PLC lifted its holdings in nCino by 4.9% in the first quarter. Janus Henderson Group PLC now owns 817,076 shares of the company's stock valued at $12,239,000 after acquiring an additional 38,228 shares during the last quarter. Finally, Spyglass Capital Management LLC lifted its holdings in nCino by 6.0% in the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company's stock valued at $46,217,000 after acquiring an additional 175,357 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on NCNO. Citizens Jmp lowered their target price on nCino from $32.00 to $23.00 and set a "market outperform" rating on the stock in a report on Monday, May 18th. Wall Street Zen upgraded nCino from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Truist Financial lowered their target price on nCino from $27.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, April 1st. Barclays boosted their target price on nCino from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, April 1st. Finally, Needham & Company LLC restated a "buy" rating and set a $25.00 target price on shares of nCino in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, nCino has an average rating of "Moderate Buy" and a consensus price target of $25.21.
Get Our Latest Analysis on nCino
nCino Company Profile
(
Get Free Report)
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.
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