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nCino, Inc. (NASDAQ:NCNO – Get Free Report) CFO Gregory Orenstein sold 12,101 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $252,426.86. Following the completion of the sale, the chief financial officer now directly owns 259,643 shares in the company, valued at $5,416,152.98. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Gregory Orenstein also recently made the following trade(s):
- On Tuesday, February 4th, Gregory Orenstein sold 5,148 shares of nCino stock. The stock was sold at an average price of $32.60, for a total transaction of $167,824.80.
nCino Trading Down 1.2 %
Shares of NCNO stock opened at $21.45 on Monday. nCino, Inc. has a 1-year low of $18.75 and a 1-year high of $43.20. The firm’s 50-day simple moving average is $30.58 and its 200-day simple moving average is $34.03. The firm has a market cap of $2.48 billion, a P/E ratio of -126.17, a PEG ratio of 5.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95.
nCino (NASDAQ:NCNO – Get Free Report) last announced its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The company had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS. As a group, equities analysts forecast that nCino, Inc. will post 0.12 EPS for the current year.
nCino announced that its Board of Directors has approved a stock buyback program on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Analysts Set New Price Targets
NCNO has been the subject of a number of research reports. The Goldman Sachs Group cut shares of nCino from a “buy” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $24.00 in a research report on Wednesday, April 2nd. Stephens restated an “equal weight” rating and set a $38.00 price objective on shares of nCino in a research report on Wednesday, April 2nd. Morgan Stanley lowered their target price on nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 2nd. Needham & Company LLC cut their price target on nCino from $45.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, UBS Group set a $40.00 price objective on nCino in a research note on Friday, March 28th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.33.
Get Our Latest Analysis on NCNO
Hedge Funds Weigh In On nCino
Large investors have recently modified their holdings of the company. Fifth Third Bancorp purchased a new stake in shares of nCino during the 4th quarter worth about $34,000. Hilltop National Bank acquired a new position in nCino during the fourth quarter valued at approximately $37,000. Johnson Financial Group Inc. purchased a new stake in nCino during the fourth quarter worth approximately $57,000. Asset Management One Co. Ltd. increased its position in shares of nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after acquiring an additional 323 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after acquiring an additional 1,122 shares during the period. 94.76% of the stock is currently 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.
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