In a recent transaction, nCino, Inc. (NASDAQ:NCNO) director William J. Ruh sold a total of 15,000 shares of the company's common stock, resulting in proceeds exceeding $516,000. The sales occurred in two separate transactions on April 5 and April 8, with the shares being sold at weighted average prices of $34.4284 and $34.509 respectively.
On April 5, Ruh sold 10,000 shares of nCino stock at an average price of $34.4284, which amounted to a total value of approximately $344,284. The transactions took place in multiple parts, with prices ranging from $34.30 to $34.575. A few days later, on April 8, an additional 5,000 shares were sold at an average price of $34.509, totaling around $172,545. These shares were also sold in multiple transactions with prices between $34.50 and $34.54.
It's noted that the shares sold by Ruh are held by the William J. Ruh Trust, U/T/A, of which he is the sole trustee. The remaining holdings of Ruh in nCino, following these transactions, amount to a substantial 251,201 shares.
The sales were disclosed in a Form 4 filing with the Securities and Exchange Commission, where full details on the number of shares sold at each price within the given ranges are available upon request. The filing was signed on behalf of Ruh by Jeanette Sellers, his attorney-in-fact, on April 9, 2024.
Investors often monitor insider sales as they can provide insights into an executive's confidence in the company's future prospects. However, it's also common for executives to sell shares for personal financial management, such as diversifying assets or funding personal expenses.
InvestingPro Insights
Following the insider sales by director William J. Ruh, nCino, Inc. (NASDAQ:NCNO) investors may find the current financial metrics and analyst expectations useful for assessing the company's performance and potential. According to InvestingPro data, nCino boasts a market capitalization of $4.01 billion and has experienced a revenue growth of 16.71% over the last twelve months as of Q4 2024. Despite not being profitable in the last twelve months, with an operating income margin of -7.03%, analysts are optimistic about the company's future.
InvestingPro Tips suggest that nCino's net income is expected to grow this year, with a total of 10 analysts having revised their earnings estimates upwards for the upcoming period. This could indicate a positive outlook for the company's profitability. Moreover, nCino operates with a moderate level of debt, which could be a stabilizing factor for potential investors. It's also worth noting that the company is trading near its 52-week high, with a strong return over the last month of 18.32%, reflecting recent positive investor sentiment.
Investors considering nCino as part of their portfolio should be aware that the company does not pay a dividend to shareholders, which might influence those seeking regular income. However, the potential for capital gains could appeal to growth-focused investors, especially with analysts predicting the company will turn profitable this year. For a deeper dive into nCino's financials and additional insights, visit InvestingPro which lists numerous other tips to help make informed decisions. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. In total, there are 9 additional InvestingPro Tips available for nCino, providing a comprehensive analysis for prospective and current investors.
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