nCino, Inc. (NASDAQ:NCNO) CRO Joshua L. Glover Sells 20,000 Shares

nCino, Inc. (NASDAQ:NCNO) CRO Joshua L. Glover sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $62.74, for a total transaction of $1,254,800.00. Following the completion of the sale, the executive now owns 128,675 shares of the company’s stock, valued at approximately $8,073,069.50. The transaction was disclosed in a filing with the SEC, which is available through this link.

NASDAQ NCNO opened at $61.96 on Friday. The stock has a market capitalization of $5.91 billion and a P/E ratio of -112.65. nCino, Inc. has a 52 week low of $48.00 and a 52 week high of $103.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.29 and a current ratio of 3.29. The firm’s 50-day simple moving average is $62.91.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, June 1st. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The business had revenue of $62.36 million for the quarter, compared to the consensus estimate of $59.36 million. nCino had a negative net margin of 23.72% and a negative return on equity of 9.82%. The company’s revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. As a group, equities research analysts expect that nCino, Inc. will post -0.53 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NCNO. Price T Rowe Associates Inc. MD lifted its holdings in nCino by 69.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,721,949 shares of the company’s stock valued at $619,072,000 after purchasing an additional 3,588,709 shares during the last quarter. HMI Capital Management L.P. purchased a new stake in shares of nCino in the first quarter worth about $159,212,000. Whale Rock Capital Management LLC purchased a new stake in shares of nCino in the first quarter worth about $89,761,000. BlackRock Inc. lifted its holdings in shares of nCino by 131.4% in the first quarter. BlackRock Inc. now owns 1,632,459 shares of the company’s stock worth $108,916,000 after buying an additional 927,038 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of nCino by 113.4% in the first quarter. Nuveen Asset Management LLC now owns 1,355,972 shares of the company’s stock worth $90,470,000 after buying an additional 720,704 shares in the last quarter. 88.22% of the stock is currently owned by institutional investors and hedge funds.

NCNO has been the subject of several recent analyst reports. Barclays reduced their target price on shares of nCino from $92.00 to $75.00 and set an “equal weight” rating for the company in a research note on Monday, March 29th. Needham & Company LLC reduced their target price on shares of nCino from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, June 3rd. They noted that the move was a valuation call. Robert W. Baird initiated coverage on shares of nCino in a research note on Wednesday, February 17th. They issued a “neutral” rating and a $85.00 target price for the company. G.Research upgraded shares of nCino from a “hold” rating to a “buy” rating in a research report on Friday, May 14th. Finally, Wells Fargo & Company initiated coverage on shares of nCino in a research report on Wednesday. They set an “equal weight” rating and a $70.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $84.22.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications for 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 financial institutions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

Further Reading: How are capital gains distributions different for tax-deferred account?

Insider Buying and Selling by Quarter for nCino (NASDAQ:NCNO)

Receive News & Ratings for nCino Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nCino and related companies with MarketBeat.com's FREE daily email newsletter.