Insider Selling: nCino, Inc. (NASDAQ:NCNO) CFO Sells $239,481.45 in Stock

nCino, Inc. (NASDAQ:NCNO) CFO Gregory Orenstein sold 7,943 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $30.15, for a total transaction of $239,481.45. Following the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at approximately $8,348,293.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Gregory Orenstein also recently made the following trade(s):

• On Thursday, May 2nd, Gregory Orenstein sold 5,110 shares of nCino stock. The stock was sold at an average price of $30.63, for a total transaction of $156,519.30.
• On Monday, April 8th, Gregory Orenstein sold 2,410 shares of nCino stock. The shares were sold at an average price of $34.41, for a total transaction of $82,928.10.

nCino Stock Up 1.0 %

NCNO stock opened at $31.69 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $30.87 and its 200 day simple moving average is $31.37. The stock has a market cap of $3.65 billion, a PE ratio of -102.22, a price-to-earnings-growth ratio of 16.41 and a beta of 0.59. nCino, Inc. has a fifty-two week low of $23.73 and a fifty-two week high of $37.48.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The company had revenue of $123.69 million for the quarter, compared to analyst estimates of $124.58 million. nCino had a negative net margin of 6.94% and a positive return on equity of 1.13%. As a group, sell-side analysts predict that nCino, Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NCNO shares. Stephens reissued an “equal weight” rating and issued a $35.00 price objective on shares of nCino in a report on Thursday, May 30th. Piper Sandler dropped their price target on nCino from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Robert W. Baird reduced their price objective on nCino from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Morgan Stanley boosted their target price on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. Finally, William Blair restated an “outperform” rating on shares of nCino in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.64.

Institutional Trading of nCino

Several hedge funds have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. acquired a new position in shares of nCino during the first quarter valued at $52,000. Covestor Ltd increased its stake in nCino by 29.6% during the 1st quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after buying an additional 625 shares during the period. PNC Financial Services Group Inc. increased its stake in nCino by 643.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,538 shares of the company’s stock valued at $113,000 after buying an additional 3,062 shares during the period. Lazard Asset Management LLC raised its position in shares of nCino by 145.6% during the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after buying an additional 2,677 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of nCino in the 4th quarter worth approximately $171,000. Institutional investors own 94.76% of the company’s stock.

About nCino

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.