nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 8,064 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $23.66, for a total value of $190,794.24. Following the transaction, the chief executive officer directly owned 1,231,080 shares of the company's stock, valued at approximately $29,127,352.80. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 shares were 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 Price Performance
Shares of NASDAQ NCNO opened at $22.14 on Wednesday. The firm has a market capitalization of $2.34 billion, a P/E ratio of 73.80 and a beta of 0.69. nCino Inc. has a one year low of $13.80 and a one year high of $31.92. The company's fifty day moving average is $19.43 and its two-hundred day moving average is $17.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85.
Analyst Upgrades and Downgrades
NCNO has been the subject of a number of research analyst reports. BTIG Research reaffirmed a "neutral" rating on shares of nCino in a report on Wednesday, August 26th. Morgan Stanley lifted their price objective on nCino from $23.00 to $25.00 and gave the stock an "overweight" rating in a report on Wednesday, August 26th. Citizens Jmp upped their target price on nCino from $23.00 to $25.00 and gave the company a "market outperform" rating in a report on Wednesday, August 26th. Wall Street Zen upgraded nCino from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. Finally, Piper Sandler initiated coverage on shares of nCino in a research report on Monday, August 24th. They issued an "overweight" rating and a $25.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, nCino currently has an average rating of "Moderate Buy" and an average target price of $24.38.
Check Out Our Latest Stock Report on NCNO
Institutional Trading of nCino
Institutional investors and hedge funds have recently made changes to their positions in the stock. Hawk Ridge Capital Management LP lifted its holdings in nCino by 625.4% in the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company's stock valued at $67,138,000 after purchasing an additional 3,864,010 shares in the last quarter. American Capital Management Inc. purchased a new stake in shares of nCino during the second quarter worth about $83,508,000. Algebris UK Ltd. raised its position in shares of nCino by 266.2% in the fourth quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company's stock valued at $26,493,000 after buying an additional 750,744 shares during the last quarter. Spyglass Capital Management LLC raised its position in shares of nCino by 6.0% in the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company's stock valued at $46,217,000 after buying an additional 175,357 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of nCino during the fourth quarter valued at approximately $3,982,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
nCino Company Profile
(
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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