nCino, Inc. (NASDAQ:NCNO) Director Jeffrey W. Lunsford Sells 40,000 Shares

nCino, Inc. (NASDAQ:NCNOGet Rating) Director Jeffrey W. Lunsford sold 40,000 shares of nCino stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $35.51, for a total transaction of $1,420,400.00. Following the sale, the director now owns 73,404 shares of the company’s stock, valued at $2,606,576.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

NASDAQ:NCNO traded up $1.35 during mid-day trading on Tuesday, hitting $36.10. The company had a trading volume of 795,065 shares, compared to its average volume of 961,594. The business has a fifty day simple moving average of $36.66 and a 200-day simple moving average of $44.90. The company has a current ratio of 3.62, a quick ratio of 3.62 and a debt-to-equity ratio of 0.08. nCino, Inc. has a 1 year low of $23.94 and a 1 year high of $79.43. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -57.30 and a beta of 0.91.

nCino (NASDAQ:NCNOGet Rating) last released its quarterly earnings data on Wednesday, June 1st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. nCino had a negative return on equity of 13.52% and a negative net margin of 21.30%. The company had revenue of $94.21 million for the quarter, compared to analyst estimates of $91.42 million. During the same period last year, the company posted ($0.11) earnings per share. The firm’s revenue was up 51.1% compared to the same quarter last year. As a group, research analysts anticipate that nCino, Inc. will post -0.62 earnings per share for the current year.

A number of equities research analysts recently issued reports on the stock. Truist Financial lowered their target price on shares of nCino from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, June 2nd. Zacks Investment Research downgraded shares of nCino from a “hold” rating to a “sell” rating in a report on Friday. Robert W. Baird lowered their target price on shares of nCino from $60.00 to $55.00 in a report on Monday, April 4th. Morgan Stanley lowered their target price on shares of nCino from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, June 2nd. Finally, Stephens lowered their target price on shares of nCino to $40.00 in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, nCino presently has a consensus rating of “Buy” and an average target price of $54.78.

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in nCino by 24.3% in the first quarter. Bank of America Corp DE now owns 68,551 shares of the company’s stock worth $2,809,000 after purchasing an additional 13,414 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of nCino during the first quarter valued at approximately $744,000. Walleye Capital LLC raised its holdings in shares of nCino by 225.4% during the first quarter. Walleye Capital LLC now owns 34,801 shares of the company’s stock valued at $1,426,000 after buying an additional 24,107 shares during the last quarter. Cantor Fitzgerald L. P. bought a new stake in shares of nCino during the first quarter valued at approximately $612,000. Finally, Advisory Services Network LLC bought a new stake in shares of nCino during the first quarter valued at approximately $263,000.

nCino Company Profile (Get Rating)

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, 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 banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

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