nCino Stock – Insider Selling: nCino, Inc. (NASDAQ:NCNO) VP Sells 1,791 Shares of Stock
nCino, Inc. (NASDAQ:NCNO) VP Jeanette Sellers sold 1,791 shares of the business’s stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $62.28, for a total value of $111,543.48. Following the completion of the transaction, the vice president now directly owns 8,028 shares in the company, valued at $499,983.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
NASDAQ:NCNO traded up $0.71 during midday trading on Thursday, hitting $61.96. 299,123 shares of the company traded hands, compared to its average volume of 1,147,530. The firm has a fifty day moving average price of $63.05. nCino, Inc. has a 12-month low of $48.00 and a 12-month high of $103.95. The stock has a market cap of $5.91 billion and a price-to-earnings ratio of -112.65. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.29.
nCino (NASDAQ:NCNO) last released its quarterly earnings results on Tuesday, June 1st. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. nCino had a negative return on equity of 9.82% and a negative net margin of 23.72%. The company had revenue of $62.36 million for the quarter, compared to analyst estimates of $59.36 million. During the same quarter in the prior year, the firm posted ($0.04) EPS. nCino’s quarterly revenue was up 39.5% compared to the same quarter last year. On average, analysts anticipate that nCino, Inc. will post -0.53 earnings per share for the current fiscal year.
A number of research analysts recently commented on NCNO shares. Needham & Company LLC lowered their price target on nCino from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, June 3rd. They noted that the move was a valuation call. G.Research raised nCino from a “hold” rating to a “buy” rating in a report on Friday, May 14th. Barclays lowered their price target on nCino from $92.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday, March 29th. Wells Fargo & Company started coverage on nCino in a report on Wednesday. They set an “equal weight” rating and a $70.00 price objective on the stock. Finally, Zacks Investment Research cut nCino from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. nCino presently has an average rating of “Buy” and an average target price of $84.22.
A number of large investors have recently added to or reduced their stakes in NCNO. Abundance Wealth Counselors purchased a new stake in nCino during the 1st quarter valued at $33,000. Captrust Financial Advisors raised its holdings in nCino by 146.5% during the 1st quarter. Captrust Financial Advisors now owns 493 shares of the company’s stock valued at $33,000 after buying an additional 293 shares during the period. The PNC Financial Services Group Inc. grew its position in nCino by 3,418.8% in the 1st quarter. The PNC Financial Services Group Inc. now owns 563 shares of the company’s stock valued at $37,000 after acquiring an additional 547 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in nCino in the 1st quarter valued at $40,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in nCino in the 1st quarter valued at $53,000. Institutional investors own 88.22% of the company’s stock.
nCino, Inc, a software-as-a-service company, provides cloud-based software applications for financial institutions in the United States and internationally. Its nCino Bank Operating System, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable financial institutions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.
See Also: Net Income
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