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

nCino, Inc. (NASDAQ:NCNO) insider Sean Desmond sold 5,009 shares of the business’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 in the company, valued at $11,699,863.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 value of $81,276.42.

nCino Trading Up 1.5 %

NCNO opened at $31.34 on Wednesday. The business’s 50-day simple moving average is $31.16 and its 200-day simple moving average is $31.01. The company has a market cap of $3.58 billion, a P/E ratio of -82.47, a PEG ratio of 25.04 and a beta of 0.57. nCino, Inc. has a one year low of $21.32 and a one year high of $37.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.17 and a current ratio of 1.17.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $123.69 million for the quarter, compared to analysts’ expectations of $124.58 million. As a group, equities research analysts expect that nCino, Inc. will post 0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of nCino in a research note on Wednesday, March 27th. William Blair reissued an “outperform” rating on shares of nCino in a research report on Wednesday, March 27th. Morgan Stanley lifted their price objective on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Keefe, Bruyette & Woods initiated coverage on shares of nCino in a research report on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price target for the company. Finally, Needham & Company LLC increased their price objective on nCino from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.91.

Institutional Investors Weigh In On nCino

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of nCino during the first quarter worth about $52,000. PNC Financial Services Group Inc. increased its position in nCino by 643.3% during the third quarter. PNC Financial Services Group Inc. now owns 3,538 shares of the company’s stock worth $113,000 after buying an additional 3,062 shares during the period. Advisory Services Network LLC purchased a new stake in nCino in the fourth quarter valued at approximately $171,000. Nomura Holdings Inc. acquired a new stake in shares of nCino in the fourth quarter valued at approximately $211,000. Finally, Victory Capital Management Inc. purchased a new position in shares of nCino during the third quarter worth approximately $213,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.