WILMINGTON, NC—Gregory Orenstein, the Chief Financial Officer and Treasurer of nCino, Inc. (NASDAQ:NCNO), recently sold a significant amount of the company's stock according to a recent SEC filing. The transactions, executed under a pre-established trading plan, involved the sale of 4,333 shares over two days.
On October 11, Orenstein sold 448 shares at a price of $35 per share. Following this, on October 14, he sold an additional 3,885 shares at a weighted average price of $35.05, with prices ranging from $35.00 to $35.09. The total value of these transactions amounted to $151,849.
These sales were part of a Rule 10b5-1 trading plan, a common practice among executives to manage stock transactions. After the sales, Orenstein holds a total of 276,892 shares of nCino.
In other recent news, nCino, Inc. reported strong financial results for the second quarter of fiscal year 2025, with total revenues reaching $132.4 million, subscription revenues of $113.9 million, and non-GAAP operating income of $19.3 million. Despite a slowdown in Remaining Performance Obligations growth, nCino's management remains confident in achieving its 50% net booking growth target by the fiscal year 2025. In addition, Tokushima Taisho Bank has integrated nCino's Commercial Banking Solution into its business lending services to streamline operations and enhance customer service. Furthermore, the Delaware Supreme Court affirmed the dismissal of a stockholder lawsuit related to nCino's mergers with nCino OpCo and SimpleNexus. Analyst firms Raymond James, Macquarie, Piper Sandler, and Keefe, Bruyette & Woods have all provided positive ratings on nCino's shares, with Raymond James upgrading the company from Market Perform to Outperform. These recent developments reflect nCino's commitment to growth, efficiency, and customer service enhancement.
InvestingPro Insights
The recent stock sales by nCino's CFO Gregory Orenstein come at an interesting time for the company. According to InvestingPro data, nCino's stock is currently trading near its 52-week high, with a price that is 96.32% of its highest point over the past year. This aligns with the strong recent performance of the stock, which has seen a 9.33% return over the last week and an impressive 18.05% return over the last month.
Despite these positive price movements, it's worth noting that nCino is not currently profitable, with a negative operating income of $19.35 million over the last twelve months. However, an InvestingPro Tip suggests that analysts predict the company will be profitable this year, which could explain the recent stock price strength.
Another InvestingPro Tip indicates that nCino operates with a moderate level of debt, which may provide some financial flexibility as the company works towards profitability. This could be particularly important given the company's revenue growth of 13.64% over the last twelve months, suggesting ongoing expansion efforts.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for nCino, providing a deeper understanding of the company's financial position and market performance.
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