Sean Desmond Sells 8,064 Shares of nCino (NASDAQ:NCNO) Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $23.66, for a total transaction of $190,794.24. Following the sale, the chief executive officer owned 1,231,080 shares in the company, valued at $29,127,352.80. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 4th, Sean Desmond sold 28,675 shares of nCino stock. The stock was sold at an average price of $19.22, for a total value of $551,133.50.
• On Wednesday, August 5th, Sean Desmond sold 11,815 shares of nCino stock. The stock was sold at an average price of $19.53, for a total value of $230,746.95.
• On Monday, July 6th, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $17.47, for a total value of $140,878.08.

nCino Trading Down 1.9%

Shares of NCNO stock opened at $21.73 on Thursday. The company has a market cap of $2.30 billion, a PE ratio of 72.43 and a beta of 0.69. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $31.92. The stock’s 50 day simple moving average is $19.52 and its two-hundred day simple moving average is $17.31. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85.

Analyst Ratings Changes

NCNO has been the subject of a number of analyst reports. Barclays raised their price target on nCino from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 26th. Zacks Research downgraded shares of nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Morgan Stanley raised their target price on shares of nCino from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. Truist Financial lifted their price target on shares of nCino from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, August 26th. Finally, Piper Sandler initiated coverage on shares of nCino in a report on Monday, August 24th. They set an “overweight” rating and a $25.00 price target on the stock. One investment 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 company’s stock. Based on data from MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.38.

Hedge Funds Weigh In On nCino

A number of large investors have recently bought and sold shares of the business. Captrust Financial Advisors increased its stake in nCino by 1.2% in the third quarter. Captrust Financial Advisors now owns 62,747 shares of the company’s stock worth $1,701,000 after purchasing an additional 743 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of nCino by 14.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,958 shares of the company’s stock worth $153,000 after purchasing an additional 765 shares during the last quarter. CWM LLC increased its stake in nCino by 255.8% in the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after buying an additional 821 shares during the period. Quarry LP lifted its holdings in nCino by 138.2% during the 3rd quarter. Quarry LP now owns 1,701 shares of the company’s stock valued at $46,000 after buying an additional 987 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in nCino by 9.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,467 shares of the company’s stock valued at $187,000 after buying an additional 1,039 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.