Insider Sell: Joshua Glover Sells 5,757 Shares of Ncino Inc
On August 3, 2023, President & Chief Revenue Officer Joshua Glover sold 5,757 shares of Ncino Inc (NASDAQ:NCNO). This move comes amidst a year of significant insider selling activity within the company.
Joshua Glover is a key figure at Ncino Inc, serving as the President and Chief Revenue Officer. His role involves overseeing the company's revenue generation strategies and operations, making him a significant player in the company's financial performance.
Ncino Inc is a pioneer in the financial technology industry, providing cloud-based software solutions for financial institutions. The company's innovative platform offers a range of services, including customer engagement, compliance, and analytics, enabling financial institutions to improve operational efficiency and customer experience.
Over the past year, Glover has sold a total of 132,942 shares and has not made any purchases. This trend aligns with the overall insider activity at Ncino Inc, which has seen 33 insider sells and no insider buys over the same period.
The high volume of insider selling could be a cause for concern for potential investors. However, it's essential to consider the context of these transactions and the company's overall financial health.
On the day of Glover's recent sale, Ncino Inc's shares were trading at $30.14, giving the company a market cap of $3.329 billion. Despite the insider selling activity, the company's stock appears to be significantly undervalued based on its GuruFocus Value of $73.86.
The GuruFocus Value is an intrinsic value estimate that considers historical multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts. With a price-to-GF-Value ratio of 0.41, Ncino Inc's stock is significantly undervalued.
While the insider selling activity may raise some eyebrows, the company's strong financial position and the undervalued status of its stock suggest that Ncino Inc remains a potentially attractive investment opportunity. However, as always, potential investors should conduct their own thorough research before making any investment decisions.
This article first appeared on GuruFocus.
