nCino, Inc. (NASDAQ:NCNO) CFO David Rudow Sells 11,000 Shares

nCino, Inc. (NASDAQ:NCNOGet Rating) CFO David Rudow sold 11,000 shares of nCino stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $32.37, for a total value of $356,070.00. Following the transaction, the chief financial officer now directly owns 161,961 shares in the company, valued at $5,242,677.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

nCino Trading Up 5.4 %

NASDAQ NCNO opened at $35.94 on Friday. The stock has a 50 day moving average price of $33.24 and a 200-day moving average price of $36.45. nCino, Inc. has a one year low of $23.94 and a one year high of $79.43.

nCino (NASDAQ:NCNOGet Rating) last released its quarterly earnings results on Thursday, September 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. nCino had a negative net margin of 23.22% and a negative return on equity of 15.41%. The company had revenue of $99.63 million for the quarter, compared to the consensus estimate of $97.51 million. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. nCino’s revenue was up 49.8% on a year-over-year basis. On average, sell-side analysts predict that nCino, Inc. will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tilia Fiduciary Partners Inc. purchased a new position in shares of nCino in the 1st quarter worth approximately $39,000. Prospera Financial Services Inc purchased a new position in nCino during the first quarter worth $45,000. First Horizon Advisors Inc. increased its position in nCino by 58.8% during the second quarter. First Horizon Advisors Inc. now owns 1,632 shares of the company’s stock valued at $49,000 after acquiring an additional 604 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of nCino by 52.8% in the fourth quarter. Lazard Asset Management LLC now owns 938 shares of the company’s stock valued at $51,000 after acquiring an additional 324 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of nCino by 9.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,760 shares of the company’s stock worth $116,000 after acquiring an additional 331 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NCNO. Needham & Company LLC lowered their price objective on nCino from $60.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, June 2nd. Barclays lifted their price objective on nCino from $38.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, June 2nd. Truist Financial lowered their price target on nCino from $70.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, September 2nd. KeyCorp lowered their price target on nCino from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Friday, September 2nd. Finally, Morgan Stanley lowered their price target on nCino from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, June 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.50.

nCino Company Profile

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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, 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 banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

Further Reading

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

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