Gregory Orenstein Sells 3,885 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the transaction, the chief financial officer now directly owns 276,892 shares in the company, valued at approximately $9,705,064.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, October 11th, Gregory Orenstein sold 448 shares of nCino stock. The stock was sold at an average price of $35.00, for a total value of $15,680.00.
• On Monday, August 26th, Gregory Orenstein sold 553 shares of nCino stock. The stock was sold at an average price of $35.00, for a total value of $19,355.00.

nCino Trading Up 2.9 %

nCino stock traded up $1.01 during mid-day trading on Wednesday, hitting $36.06. The company’s stock had a trading volume of 3,368,345 shares, compared to its average volume of 1,061,488. The company has a 50 day moving average of $31.60 and a 200-day moving average of $31.51. The stock has a market cap of $4.15 billion, a PE ratio of -113.06, a P/E/G ratio of 26.59 and a beta of 0.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino, Inc. has a one year low of $27.13 and a one year high of $37.48.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The company had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same quarter in the prior year, the company posted ($0.02) EPS. nCino’s quarterly revenue was up 13.0% on a year-over-year basis. On average, research analysts anticipate that nCino, Inc. will post 0.05 EPS for the current year.

Hedge Funds Weigh In On nCino

A number of hedge funds and other institutional investors have recently made changes to their positions in NCNO. Capital International Investors bought a new position in shares of nCino during the 1st quarter worth $60,703,000. Long Path Partners LP grew its position in shares of nCino by 151.1% during the 2nd quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after buying an additional 1,558,529 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of nCino during the 2nd quarter worth $41,805,000. Senator Investment Group LP bought a new position in shares of nCino during the 2nd quarter worth $40,885,000. Finally, ShawSpring Partners LLC bought a new position in shares of nCino during the 2nd quarter worth $38,663,000. Institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NCNO shares. The Goldman Sachs Group raised nCino from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $42.00 in a report on Wednesday, August 14th. Truist Financial reaffirmed a “buy” rating and set a $37.00 price objective on shares of nCino in a report on Wednesday, August 28th. Macquarie reaffirmed an “outperform” rating and set a $40.00 price objective on shares of nCino in a report on Wednesday, August 28th. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Tuesday, September 3rd. Finally, Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of nCino in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.18.

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.