Sean Desmond Sells 5,009 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) insider Sean Desmond sold 5,009 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $30.63, for a total transaction of $153,425.67. Following the completion of the sale, the insider now directly owns 381,974 shares of the company’s stock, valued at approximately $11,699,863.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Sean Desmond also recently made the following trade(s):

• On Monday, April 8th, Sean Desmond sold 2,362 shares of nCino stock. The shares were sold at an average price of $34.41, for a total transaction of $81,276.42.

nCino Stock Performance

Shares of NCNO opened at $30.87 on Tuesday. nCino, Inc. has a 12 month low of $21.32 and a 12 month high of $37.48. The firm has a fifty day simple moving average of $31.14 and a 200 day simple moving average of $30.99. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of -81.24, a PEG ratio of 25.04 and a beta of 0.57. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.05.

nCino (NASDAQ:NCNO) last announced its earnings results on Tuesday, March 26th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. nCino had a negative net margin of 8.89% and a positive return on equity of 0.31%. The business had revenue of $123.69 million during the quarter, compared to analysts’ expectations of $124.58 million. Research analysts forecast that nCino, Inc. will post 0.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NCNO has been the subject of several recent analyst reports. Robert W. Baird upped their target price on shares of nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, March 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 target price on shares of nCino in a research note on Wednesday, March 27th. Morgan Stanley increased their price objective on shares of nCino from $27.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. Finally, Needham & Company LLC increased their price objective on shares of nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.91.

Institutional Trading of nCino

A number of large investors have recently added to or reduced their stakes in NCNO. Benjamin F. Edwards & Company Inc. acquired a new stake in nCino in the first quarter valued at $52,000. PNC Financial Services Group Inc. lifted its stake in nCino by 643.3% in the third quarter. PNC Financial Services Group Inc. now owns 3,538 shares of the company’s stock valued at $113,000 after acquiring an additional 3,062 shares during the last quarter. Advisory Services Network LLC acquired a new stake in nCino in the fourth quarter valued at $171,000. Nomura Holdings Inc. acquired a new stake in nCino in the fourth quarter valued at $211,000. Finally, Victory Capital Management Inc. acquired a new stake in nCino in the third quarter valued at $213,000. Institutional investors and hedge funds 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.