nCino (NASDAQ:NCNO) CFO Gregory Orenstein Sells 12,015 Shares of Stock

nCino Inc. (NASDAQ:NCNO) CFO Gregory Orenstein sold 12,015 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $22.73, for a total value of $273,100.95. Following the completion of the sale, the chief financial officer owned 678,498 shares in the company, valued at $15,422,259.54. This represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

nCino Trading Down 1.0%

nCino stock opened at $23.21 on Friday. The stock has a market cap of $2.45 billion, a PE ratio of 77.37 and a beta of 0.77. The stock has a 50-day moving average price of $21.23 and a 200 day moving average price of $18.32. nCino Inc. has a 52 week low of $13.80 and a 52 week high of $27.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34.

More nCino News

Here are the key news stories impacting nCino this week:

• Positive Sentiment: Coverage highlights nCino’s AI suite launch as the company approaches its December earnings report. The product could provide a growth opportunity, while results and management’s outlook will be important catalysts. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold a combined 66,702 shares. Most sales were to cover tax withholding from equity awards; the CEO’s sales were under a pre-arranged trading plan. The transactions may attract attention, but their stated purpose makes them a limited signal of management’s view of NCNO shares. SEC filing

Wall Street Analysts Forecast Growth

NCNO has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of nCino in a research note on Wednesday, August 26th. Citigroup reiterated a “market outperform” rating on shares of nCino in a report on Wednesday, August 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of nCino in a research report on Tuesday, August 25th. Truist Financial boosted their price objective on shares of nCino from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday, August 26th. Finally, Morgan Stanley upped their price objective on shares of nCino from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.42.

Hedge Funds Weigh In On nCino

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

nCino Company Profile

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.