nCino (NASDAQ:NCNO) CEO Sells 29,247 Shares of Company Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 29,247 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $22.73, for a total value of $664,784.31. Following the completion of the sale, the chief executive officer owned 1,261,153 shares in the company, valued at $28,666,007.69. The trade was a 2.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Desmond also recently made the following trade(s):

• On Wednesday, November 4th, Sean Desmond sold 11,757 shares of nCino stock. The stock was sold at an average price of $22.81, for a total value of $268,177.17.
• On Friday, October 9th, Sean Desmond sold 43,992 shares of nCino stock. The stock was sold at an average price of $19.90, for a total transaction of $875,440.80.
• On Monday, October 5th, Sean Desmond sold 8,064 shares of nCino stock. The stock was sold at an average price of $18.69, for a total transaction of $150,716.16.
• On Thursday, September 3rd, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $23.66, for a total transaction of $190,794.24.

nCino Stock Down 0.9%

Shares of NASDAQ NCNO traded down $0.22 during midday trading on Thursday, reaching $23.22. The company’s stock had a trading volume of 1,548,348 shares, compared to its average volume of 2,755,685. The stock has a 50 day simple moving average of $21.20 and a 200-day simple moving average of $18.32. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 77.40 and a beta of 0.77. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $27.50.

Hedge Funds Weigh In On nCino

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of nCino during the 2nd quarter worth approximately $147,492,000. Bank of America Corp DE acquired a new stake in nCino during the 2nd quarter valued at $84,319,000. American Capital Management Inc. acquired a new stake in nCino during the 2nd quarter valued at $83,508,000. HMI Capital Management L.P. acquired a new stake in nCino during the 2nd quarter valued at $81,598,000. Finally, Senvest Management LLC boosted its position in nCino by 30.2% during the first quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock worth $79,521,000 after purchasing an additional 1,230,192 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on NCNO. UBS Group reissued a “buy” rating on shares of nCino in a research report on Wednesday, August 26th. BTIG Research restated a “neutral” rating on shares of nCino in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods raised their price objective on nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of nCino in a research report on Wednesday, August 26th. Finally, Barclays upped their target price on nCino from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.42.

About nCino

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.

The company’s products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.