nCino, Inc. (NASDAQ:NCNO) CFO Sells $356,070.00 in Stock

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

nCino Price Performance

NASDAQ NCNO opened at $35.94 on Friday. nCino, Inc. has a 1 year low of $23.94 and a 1 year high of $79.43. The stock has a market capitalization of $3.98 billion, a PE ratio of -48.57 and a beta of 0.78. The company’s 50 day simple moving average is $33.24 and its two-hundred day simple moving average is $36.42.

nCino (NASDAQ:NCNOGet Rating) last posted its earnings results on Thursday, September 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.04. The business had revenue of $99.63 million for the quarter, compared to analysts’ expectations of $97.51 million. nCino had a negative net margin of 23.22% and a negative return on equity of 15.41%. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) EPS. On average, research analysts anticipate that nCino, Inc. will post -0.72 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on NCNO shares. Morgan Stanley cut their price objective on shares of nCino from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, June 2nd. Needham & Company LLC cut their price objective on shares of nCino from $60.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, June 2nd. Truist Financial cut their price objective on shares of nCino from $70.00 to $45.00 and set a “buy” rating for the company in a report on Friday, September 2nd. Stephens cut their price objective on shares of nCino to $40.00 in a report on Friday, June 3rd. Finally, Piper Sandler raised their price objective on shares of nCino from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, September 2nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, nCino has an average rating of “Moderate Buy” and an average price target of $43.50.

Institutional Trading of nCino

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tilia Fiduciary Partners Inc. bought a new position in shares of nCino during the 1st quarter valued at $39,000. Prospera Financial Services Inc bought a new position in shares of nCino during the 1st quarter valued at $45,000. First Horizon Advisors Inc. grew its holdings in nCino by 58.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,632 shares of the company’s stock worth $49,000 after acquiring an additional 604 shares during the last quarter. Lazard Asset Management LLC grew its holdings in nCino by 52.8% in the 4th quarter. Lazard Asset Management LLC now owns 938 shares of the company’s stock worth $51,000 after acquiring an additional 324 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in 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.

About nCino

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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.

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