nCino (NASDAQ:NCNO) Insider April Rieger Sells 9,693 Shares
by Teresa Graham · The Cerbat GemnCino Inc. (NASDAQ:NCNO – Get Free Report) insider April Rieger sold 9,693 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $174,667.86. Following the completion of the sale, the insider owned 383,601 shares of the company’s stock, valued at approximately $6,912,490.02. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
April Rieger also recently made the following trade(s):
- On Thursday, April 2nd, April Rieger sold 5,747 shares of nCino stock. The shares were sold at an average price of $16.75, for a total value of $96,262.25.
nCino Trading Down 0.2%
NASDAQ:NCNO traded down $0.03 during trading hours on Tuesday, hitting $17.96. The company had a trading volume of 2,493,938 shares, compared to its average volume of 2,657,105. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $33.92. The company has a 50-day moving average of $16.45 and a 200 day moving average of $21.26. The company has a market cap of $1.95 billion, a P/E ratio of 359.20 and a beta of 0.72. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25.
nCino (NASDAQ:NCNO – Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.21 by $0.16. nCino had a return on equity of 4.75% and a net margin of 0.87%.The business had revenue of $149.67 million for the quarter, compared to analyst estimates of $147.41 million. During the same quarter in the prior year, the company posted $0.12 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Sell-side analysts expect that nCino Inc. will post 0.52 earnings per share for the current year.
Hedge Funds Weigh In On nCino
Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in nCino by 20.6% during the 1st quarter. Bank of New York Mellon Corp now owns 527,631 shares of the company’s stock worth $7,904,000 after acquiring an additional 90,209 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in nCino by 7.2% during the 1st quarter. Bleakley Financial Group LLC now owns 30,525 shares of the company’s stock worth $457,000 after acquiring an additional 2,054 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in nCino during the 1st quarter worth about $219,000. Diversify Wealth Management LLC lifted its stake in nCino by 25.0% during the 1st quarter. Diversify Wealth Management LLC now owns 23,101 shares of the company’s stock worth $346,000 after acquiring an additional 4,621 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in nCino by 43,148.7% during the 1st quarter. Fifth Third Bancorp now owns 341,665 shares of the company’s stock worth $5,118,000 after acquiring an additional 340,875 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on NCNO. The Goldman Sachs Group decreased their price target on nCino from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Zacks Research raised nCino from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. Needham & Company LLC decreased their price target on nCino from $38.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Barclays upped their price target on nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. decreased their price target on nCino from $30.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.07.
Check Out Our Latest Stock Analysis on nCino
About nCino
nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.
Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.