Insider Selling: nCino, Inc. (NASDAQ:NCNO) Director Sells $375,000.00 in Stock

nCino, Inc. (NASDAQ:NCNO) Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the sale, the director now directly owns 226,201 shares in the company, valued at $8,482,537.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

nCino Price Performance

NCNO opened at $37.83 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $32.31 and its 200-day simple moving average is $31.69. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -122.03, a PEG ratio of 30.64 and a beta of 0.59. nCino, Inc. has a 12-month low of $27.27 and a 12-month high of $38.48.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The company had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. During the same period in the prior year, the business earned ($0.02) EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities research analysts anticipate that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stephens reissued an “equal weight” rating and set a $35.00 target price on shares of nCino in a research report on Wednesday, August 28th. Needham & Company LLC reduced their target price on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. Macquarie reiterated an “outperform” rating and set a $40.00 price target on shares of nCino in a report on Wednesday. William Blair reissued an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Finally, Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, nCino has a consensus rating of “Moderate Buy” and an average target price of $38.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bamco Inc. NY grew its stake in nCino by 83.7% in the first quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock valued at $34,576,000 after purchasing an additional 421,500 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in nCino in the second quarter valued at approximately $3,530,000. Clearbridge Investments LLC grew its holdings in nCino by 14.7% in the first quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock worth $45,985,000 after purchasing an additional 157,470 shares during the last quarter. Select Equity Group L.P. increased its position in shares of nCino by 182.0% during the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock worth $800,000 after purchasing an additional 16,416 shares in the last quarter. Finally, Motley Fool Asset Management LLC purchased a new stake in shares of nCino during the 1st quarter valued at $1,175,000. 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.