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Jeanette Sellers, the Vice President of Accounting at nCino, Inc. (NASDAQ:NCNO), has sold 468 shares of the company’s common stock. The transaction, which took place on February 4, 2025, was executed at an average price of $32.603 per share, resulting in a total value of $15,258. The banking software provider, currently valued at $3.75 billion, has shown promising growth with revenue increasing by ~13% over the last twelve months. According to InvestingPro analysis, while not currently profitable, analysts expect the company to turn profitable this year.
According to the filing, the shares were sold to cover tax withholding obligations upon the vesting of restricted stock units (RSUs). These "sales to cover" are mandated by nCino’s equity incentive plans and do not represent a discretionary trade by Sellers. Following this transaction, Sellers holds 22,602 shares of nCino stock. With analyst targets ranging from $38 to $45, InvestingPro subscribers can access 7 additional key insights about nCino’s financial health and valuation metrics in the comprehensive Pro Research Report.
In other recent news, nCino Inc. has been making headlines with a series of significant developments. The cloud-based banking software company recently appointed Sean Desmond as its new President and Chief Executive Officer, succeeding Pierre Naudé who will continue to serve as Executive Chairman of the Board. This leadership transition was accompanied by the appointment of Chris Gufford as the new Chief Product Officer.
In the realm of financials, nCino reaffirmed its guidance for the fourth quarter and fiscal year 2025, with a target of 15% subscription revenue growth in FY26. JMP Securities maintained its Market Outperform rating on nCino’s stock with a steady price target of $43.00, despite adjustments to the non-GAAP earnings per share (EPS) and revenue forecasts for FY26 and FY27 due to the new CEO’s likely conservative initial guidance and persistently high interest rates.
Barclays (LON:BARC) also upgraded nCino stock from Equalweight to Overweight, setting a price target of $44.00. The upgrade was attributed to increased confidence in improvements for nCino’s bank customers, a new platform pricing model expected to accelerate revenue recognition, and the company’s trading at a discount compared to other vertical SaaS leaders.
Finally, nCino announced the amendment and restatement of employment agreements for its top executives, aligning with market practices and updating compensation structures. The new agreements modify termination provisions and reflect current compensation levels. These are the recent developments that have been shaping nCino’s trajectory.
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