nCino (NASDAQ:NCNO) SVP Jeanette Sellers Sells 690 Shares

nCino Inc. (NASDAQ:NCNO) SVP Jeanette Sellers sold 690 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $22.70, for a total value of $15,663.00. Following the transaction, the senior vice president directly owned 47,763 shares in the company, valued at approximately $1,084,220.10. The trade was a 1.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Jeanette Sellers also recently made the following trade(s):

• On Wednesday, August 5th, Jeanette Sellers sold 1,536 shares of nCino stock. The shares were sold at an average price of $19.53, for a total value of $29,998.08.
• On Tuesday, August 4th, Jeanette Sellers sold 887 shares of nCino stock. The shares were sold at an average price of $19.22, for a total value of $17,048.14.

nCino Stock Down 1.7%

Shares of NCNO opened at $22.60 on Tuesday. The company’s 50-day simple moving average is $18.51 and its 200-day simple moving average is $16.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $32.53. The stock has a market capitalization of $2.39 billion, a PE ratio of 75.33 and a beta of 0.66.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Truist Financial upped their price objective on nCino from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, August 26th. Keefe, Bruyette & Woods boosted their target price on nCino from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of nCino in a research note on Tuesday, August 25th. Citigroup restated a “market outperform” rating on shares of nCino in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. increased their price target on nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.38.

Hedge Funds Weigh In On nCino

A number of hedge funds have recently modified their holdings of NCNO. Millennium Management LLC grew its position in nCino by 16.6% in the 1st quarter. Millennium Management LLC now owns 303,853 shares of the company’s stock valued at $8,347,000 after buying an additional 43,247 shares during the last quarter. Woodline Partners LP boosted its stake in shares of nCino by 105.3% in the first quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock valued at $363,000 after buying an additional 6,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of nCino by 16.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock valued at $7,731,000 after buying an additional 39,345 shares in the last quarter. Prudential Financial Inc. acquired a new position in nCino during the second quarter worth $208,000. Finally, Marshall Wace LLP acquired a new position in nCino during the second quarter worth $4,163,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.