Insider Selling: nCino, Inc. (NASDAQ:NCNO) Director Sells 20,000 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) Director William J. Ruh sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 16th. The shares were sold at an average price of $77.50, for a total value of $1,550,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of NCNO opened at $75.45 on Tuesday. The business has a 50-day moving average of $66.12 and a 200 day moving average of $64.61. nCino, Inc. has a fifty-two week low of $48.00 and a fifty-two week high of $90.22. The firm has a market cap of $7.26 billion, a P/E ratio of -145.09 and a beta of 1.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.96 and a current ratio of 2.96.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, August 31st. The company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.04. nCino had a negative return on equity of 8.95% and a negative net margin of 21.39%. The business had revenue of $66.50 million during the quarter, compared to analyst estimates of $63.72 million. The company’s revenue was up 36.3% compared to the same quarter last year. As a group, research analysts predict that nCino, Inc. will post -0.54 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Asset Management One Co. Ltd. lifted its holdings in shares of nCino by 15.1% in the second quarter. Asset Management One Co. Ltd. now owns 1,528 shares of the company’s stock worth $91,000 after buying an additional 200 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of nCino by 12.4% in the second quarter. Panagora Asset Management Inc. now owns 1,838 shares of the company’s stock worth $110,000 after buying an additional 203 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of nCino by 87.6% in the second quarter. First Horizon Advisors Inc. now owns 437 shares of the company’s stock worth $26,000 after buying an additional 204 shares in the last quarter. Atria Investments LLC lifted its holdings in shares of nCino by 0.7% in the second quarter. Atria Investments LLC now owns 29,143 shares of the company’s stock worth $1,746,000 after buying an additional 204 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of nCino by 5.7% in the second quarter. Federated Hermes Inc. now owns 4,850 shares of the company’s stock worth $291,000 after buying an additional 262 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on NCNO. Needham & Company LLC lifted their target price on nCino from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, September 2nd. Zacks Investment Research upgraded nCino from a “sell” rating to a “hold” rating in a research note on Wednesday, August 4th. Barclays lifted their target price on nCino from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 2nd. Wells Fargo & Company began coverage on nCino in a research note on Wednesday, June 9th. They set an “equal weight” rating and a $70.00 target price on the stock. Finally, Barrington Research lifted their target price on nCino from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 2nd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $79.40.

nCino Company Profile

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.

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Insider Buying and Selling by Quarter for nCino (NASDAQ:NCNO)

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