WILMINGTON, N.C.—William J. Ruh, a director at nCino, Inc. (NASDAQ:NCNO), recently sold 20,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $40 each, totaling $800,000.
These transactions were carried out under a Rule 10b5-1 trading plan, which Ruh adopted on January 16, 2024. Following this sale, Ruh indirectly holds 206,201 shares through the William J. Ruh Trust, where he serves as the sole trustee. Additionally, Ruh directly holds 29,540 shares of nCino stock.
nCino, headquartered in Wilmington, North Carolina, specializes in providing cloud-based banking solutions.
In other recent news, nCino, a provider of banking solutions, 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. The firm appointed Joaquín de Valenzuela as the new Managing Director for the EMEA region, aiming to expand its market presence in Europe, the Middle East, and Africa. In addition, nCino acquired UK-based SaaS company FullCircl for $135 million to enhance its customer onboarding and lifecycle management capabilities for commercial banks in the UK and Europe.
Analyst firms Truist Securities and Raymond (NS:RYMD) James recently upgraded their ratings for nCino, citing the potential of the company's AI-powered Banking Advisor and the firm's progression toward a phase of organic growth acceleration. Tokushima Taisho Bank has integrated nCino's Commercial Banking Solution into its business lending services to enhance operational efficiency and customer service. In legal developments, the Delaware Supreme Court affirmed the dismissal of a stockholder lawsuit related to nCino's mergers with nCino OpCo and SimpleNexus. These are the recent developments surrounding nCino.
InvestingPro Insights
As William J. Ruh's recent stock sale unfolds, nCino's financial landscape presents a mixed picture. According to InvestingPro data, the company boasts a market capitalization of $4.92 billion, reflecting its significant presence in the cloud-based banking solutions sector. Despite not being profitable over the last twelve months, an InvestingPro Tip suggests that net income is expected to grow this year, potentially signaling a turnaround in the company's financial performance.
nCino's revenue for the last twelve months stood at $506.12 million, with a notable revenue growth of 13.64%. This growth trajectory aligns with the company's position in the rapidly evolving fintech industry. However, investors should note that nCino is trading at high revenue and EBITDA valuation multiples, as pointed out by InvestingPro Tips.
The stock's recent performance has been particularly strong, with a 35.06% price return over the last month and a 35.93% return over the past six months. This upward momentum has brought nCino's stock price to 98.84% of its 52-week high, suggesting robust investor confidence. However, an InvestingPro Tip cautions that the RSI indicates the stock may be in overbought territory, which could be relevant to investors considering the timing of Ruh's stock sale.
For those seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for nCino, providing deeper insights into the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.