nCino (NASDAQ:NCNO) CEO Sean Desmond Sells 16,589 Shares of Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 16,589 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $18.04, for a total value of $299,265.56. Following the completion of the transaction, the chief executive officer owned 1,262,492 shares of the company’s stock, valued at $22,775,355.68. This trade represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 4th, Sean Desmond sold 22,073 shares of nCino stock. The stock was sold at an average price of $18.02, for a total value of $397,755.46.
• On Monday, April 6th, Sean Desmond sold 15,440 shares of nCino stock. The stock was sold at an average price of $17.06, for a total transaction of $263,406.40.
• On Thursday, April 2nd, Sean Desmond sold 5,747 shares of nCino stock. The shares were sold at an average price of $16.75, for a total transaction of $96,262.25.

nCino Stock Performance

NASDAQ NCNO opened at $17.78 on Friday. The company has a market capitalization of $1.93 billion, a PE ratio of 355.60 and a beta of 0.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $33.92. The company has a 50-day simple moving average of $16.60 and a 200 day simple moving average of $21.13.

nCino (NASDAQ:NCNO) last released its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. nCino had a net margin of 0.87% and a return on equity of 4.75%. The firm had revenue of $149.67 million for the quarter, compared to analysts’ expectations of $147.41 million. During the same period in the previous year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, research analysts predict that nCino Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On nCino

A number of hedge funds and other institutional investors have recently bought and sold shares of NCNO. FNY Investment Advisers LLC lifted its position in shares of nCino by 15.9% during the fourth quarter. FNY Investment Advisers LLC now owns 3,228 shares of the company’s stock worth $82,000 after acquiring an additional 444 shares in the last quarter. US Bancorp DE grew its position in shares of nCino by 1.6% in the third quarter. US Bancorp DE now owns 32,042 shares of the company’s stock valued at $869,000 after purchasing an additional 501 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of nCino by 186.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock valued at $26,000 after purchasing an additional 617 shares during the period. Lecap Asset Management Ltd. lifted its holdings in nCino by 2.3% during the 4th quarter. Lecap Asset Management Ltd. now owns 31,163 shares of the company’s stock worth $799,000 after purchasing an additional 691 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in nCino by 1.2% during the 3rd quarter. Captrust Financial Advisors now owns 62,747 shares of the company’s stock worth $1,701,000 after purchasing an additional 743 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on NCNO shares. Stephens reduced their price objective on nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Weiss Ratings restated a “sell (d-)” rating on shares of nCino in a research note on Thursday, January 22nd. Piper Sandler raised nCino from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $30.00 to $22.00 in a research report on Wednesday, April 1st. Wall Street Zen raised nCino from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Finally, The Goldman Sachs Group lowered their price objective on nCino from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.07.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.