Key Points
- nCino insider April Rieger sold 6,098 shares at an average price of $21.98, totaling $134,034.04. The sale reduced her holdings by 1.62% and was made to cover tax obligations related to vested equity awards.
- NCNO opened at $21.41, giving nCino a market capitalization of approximately $2.26 billion. The stock has traded between $13.80 and $31.23 over the past year.
- Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $24.38; institutional investors own 94.76% of the company.
nCino Inc. (NASDAQ:NCNO - Get Free Report) insider April Rieger sold 6,098 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $21.98, for a total value of $134,034.04. Following the completion of the sale, the insider directly owned 369,651 shares of the company's stock, valued at approximately $8,124,928.98. This represents a 1.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
April Rieger also recently made the following trade(s):
- On Tuesday, August 4th, April Rieger sold 7,852 shares of nCino stock. The stock was sold at an average price of $19.22, for a total transaction of $150,915.44.
nCino Trading Down 1.3%
NCNO stock opened at $21.41 on Friday. The company has a market capitalization of $2.26 billion, a PE ratio of 71.37 and a beta of 0.69. 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 one year low of $13.80 and a one year high of $31.23. The company's 50 day moving average price is $20.00 and its two-hundred day moving average price is $17.56.
Hedge Funds Weigh In On nCino
A number of hedge funds have recently modified their holdings of NCNO. BlackRock Inc. purchased a new stake in shares of nCino during the second quarter worth about $147,492,000. Bank of America Corp DE purchased a new position in nCino during the 2nd quarter valued at about $84,319,000. American Capital Management Inc. bought a new position in nCino during the 2nd quarter valued at approximately $83,508,000. HMI Capital Management L.P. bought a new position in nCino during the 2nd quarter valued at approximately $81,598,000. Finally, Senvest Management LLC lifted 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 worth $79,521,000 after buying an additional 1,230,192 shares during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on nCino from $23.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday, August 26th. Citigroup reissued a "market outperform" rating on shares of nCino in a research note on Wednesday, August 26th. 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. BTIG Research reaffirmed a "neutral" rating on shares of nCino in a research note on Wednesday, August 26th. Finally, Wall Street Zen upgraded nCino from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.38.
View Our Latest Analysis on nCino
nCino Company Profile
(
Get Free Report)
nCino, Inc (NASDAQ: NCNO) provides cloud-based software designed to help banks, credit unions and other financial institutions manage and modernize their operations. Its platform, known as the nCino Bank Operating System, is built to streamline processes, improve collaboration and provide a unified view of customer and financial data.
The company's products support commercial, small-business, consumer and mortgage lending, as well as account opening, deposit origination, onboarding, credit analysis, portfolio management and regulatory compliance.
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