nCino, Inc. (NASDAQ:NCNO) Director Sells $16,771,500.00 in Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 450,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $37.27, for a total transaction of $16,771,500.00. Following the completion of the transaction, the director now directly owns 12,063,467 shares in the company, valued at $449,605,415.09. This represents a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Jeff Horing also recently made the following trade(s):

• On Friday, October 18th, Jeff Horing sold 1,833,975 shares of nCino stock. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50.
• On Wednesday, October 16th, Jeff Horing sold 1,356,721 shares of nCino stock. The shares were sold at an average price of $36.02, for a total value of $48,869,090.42.

nCino Price Performance

NASDAQ:NCNO traded up $0.41 during mid-day trading on Wednesday, hitting $36.41. The company’s stock had a trading volume of 2,261,308 shares, compared to its average volume of 1,100,264. nCino, Inc. has a fifty-two week low of $28.09 and a fifty-two week high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -211.76, a P/E/G ratio of 28.36 and a beta of 0.59. The stock has a fifty day moving average of $38.05 and a 200-day moving average of $33.75.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NCNO shares. Needham & Company LLC raised their price objective on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Tuesday, September 3rd. William Blair reissued an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Macquarie upped their price objective on shares of nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Piper Sandler restated a “neutral” rating and set a $38.00 price target on shares of nCino in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, nCino has an average rating of “Moderate Buy” and a consensus price target of $42.38.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NCNO. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of nCino by 8.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock worth $244,766,000 after buying an additional 635,064 shares in the last quarter. Long Path Partners LP boosted its stake in nCino by 43.7% in the third quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after acquiring an additional 1,131,271 shares during the last quarter. ShawSpring Partners LLC boosted its stake in nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after acquiring an additional 1,424,349 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in nCino by 65.1% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock valued at $66,341,000 after acquiring an additional 828,124 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of nCino by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock worth $65,261,000 after purchasing an additional 736,627 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

About nCino

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.