Key Points
- nCino CEO Sean Desmond sold 8,064 shares on July 6 at an average price of $17.47, totaling about $140,878. After the sale, he still owned roughly 1.26 million shares.
- The sale was executed under a pre-arranged Rule 10b5-1 trading plan, and it followed several earlier insider sales by Desmond in May and June.
- nCino shares were trading around $17.34, well below their 52-week high of $33.92, while analysts currently rate the stock a Moderate Buy with an average target price of $25.29.
nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 8,064 shares of the firm's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $17.47, for a total value of $140,878.08. Following the sale, the chief executive officer directly owned 1,262,492 shares of the company's stock, valued at $22,055,735.24. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Wednesday, June 3rd, Sean Desmond sold 8,064 shares of nCino stock. The stock was sold at an average price of $16.26, for a total value of $131,120.64.
- On Tuesday, May 5th, Sean Desmond sold 16,589 shares of nCino stock. The stock was sold at an average price of $18.04, for a total value of $299,265.56.
- On Monday, May 4th, Sean Desmond sold 22,073 shares of nCino stock. The stock was sold at an average price of $18.02, for a total value of $397,755.46.
nCino Stock Performance
Shares of NASDAQ:NCNO opened at $17.34 on Thursday. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92. The firm has a market cap of $1.90 billion, a PE ratio of 144.50 and a beta of 0.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The business has a fifty day moving average of $16.00 and a 200-day moving average of $18.18.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on NCNO shares. Citigroup restated a "market outperform" rating on shares of nCino in a research report on Monday, June 22nd. Stephens reduced their target price on shares of nCino from $34.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. Zacks Research raised shares of nCino from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 31st. Barclays increased their price target on shares of nCino from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, April 1st. Finally, Wall Street Zen raised shares of nCino from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $25.29.
Check Out Our Latest Analysis on NCNO
Hedge Funds Weigh In On nCino
Several hedge funds have recently added to or reduced their stakes in NCNO. FNY Investment Advisers LLC increased its position in nCino by 15.9% in the fourth quarter. FNY Investment Advisers LLC now owns 3,228 shares of the company's stock worth $82,000 after purchasing an additional 444 shares during the period. Lecap Asset Management Ltd. lifted its position in nCino by 2.3% during the 4th quarter. Lecap Asset Management Ltd. now owns 31,163 shares of the company's stock valued at $799,000 after purchasing an additional 691 shares during the period. Farther Finance Advisors LLC lifted its position in nCino by 76.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company's stock valued at $43,000 after purchasing an additional 722 shares during the period. Captrust Financial Advisors boosted its stake in shares of nCino by 1.2% in the 3rd quarter. Captrust Financial Advisors now owns 62,747 shares of the company's stock valued at $1,701,000 after purchasing an additional 743 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of nCino by 14.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,958 shares of the company's stock valued at $153,000 after purchasing an additional 765 shares during the last quarter. Institutional investors own 94.76% of the company's stock.
About nCino
(
Get Free Report)
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.
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