Jeff Horing, a director and significant shareholder of nCino, Inc. (NASDAQ:NCNO), has sold a substantial amount of the company's stock over a series of transactions in the past few days. The sales, which occurred on June 25th, 26th, and 27th, totaled over $20 million.
On June 25th, Horing sold 68,766 shares at a weighted average price of $31.5052, followed by a sale of 6,753 shares on June 26th for an average price of $31.5086. The selling spree continued on June 27th with the disposal of 569,200 shares at a price of $31.5. These transactions were part of multiple sales within a price range of $31.5 to $31.550.
Following these sales, Horing still holds a significant stake in nCino, with 25,013,467 shares remaining in his possession. It's important to note that the shares are held indirectly through various entities affiliated with Insight Partners, a private equity and venture capital firm, where Horing serves as a managing director.
The exact distribution of the shares sold at each price point within the reported range has not been disclosed in the filing. However, Horing has agreed to provide full details to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission upon request.
This series of transactions comes as nCino, a provider of cloud-based software for financial institutions, continues to innovate and expand its market presence. Investors and market watchers often keep a close eye on insider transactions like these for insights into the company's performance and prospects.
In other recent news, nCino, Inc. has been making significant strides in the financial technology sector. The company's first quarter of fiscal year 2025 saw record-breaking gross sales, with total revenues reaching $128.1 million, marking a 13% increase year-over-year. nCino also reported a 14% increase in non-GAAP gross margin compared to the previous year and projected a 50% increase in net sales for the fiscal year.
Morgan Stanley upgraded the company's stock rating to "Equal Weight," reflecting a focus on margin and free cash flow expansion. Barclays Capital Inc. also gave nCino an "Equal Weight" rating, further indicating Wall Street's interest in the company's performance.
In terms of strategic growth, nCino has been successful in cross-selling new tools and expanding into international markets, particularly Japan. The company's management is focused on profitable growth, expecting to guide full-year growth outlook below consensus. These are the recent developments that investors should keep an eye on.
InvestingPro Insights
As nCino, Inc. (NASDAQ:NCNO) navigates the market following the insider stock sales by Jeff Horing, investors are considering various metrics to gauge the company's financial health and future prospects. According to real-time data from InvestingPro, nCino boasts a market capitalization of approximately $3.6 billion, with a revenue growth over the last twelve months as of Q1 2025 standing at 14.77%. Despite not being profitable over the last twelve months, with a P/E ratio of -103.12, analysts predict the company will be profitable this year, indicating potential for future earnings growth.
InvestingPro Tips suggest that while nCino operates with a moderate level of debt and trades with low price volatility, it is currently trading at a high revenue valuation multiple. Additionally, 10 analysts have revised their earnings downwards for the upcoming period, which could be a point of consideration for potential investors. Moreover, nCino does not pay a dividend to shareholders, which may influence the investment decisions of those seeking regular income streams.
For those looking to delve deeper into nCino's financials and stock performance, InvestingPro offers a wealth of additional tips. In fact, there are 7 more InvestingPro Tips available for nCino, which can be accessed by visiting https://www.investing.com/pro/NCNO. For a limited time, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing even more value to those seeking to make informed investment decisions.
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