Key Points
- nCino CEO Sean Desmond sold 43,992 shares at an average price of $19.90, generating approximately $875,441. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 3.45% to 1.23 million shares.
- NCNO shares opened at $19.67, with the company valued at approximately $2.08 billion. The stock has traded between $13.80 and $27.50 over the past year.
- Analysts maintain a generally positive view, with nCino carrying a “Moderate Buy” consensus rating and an average price target of $24.38; institutional investors own 94.76% of the stock.
nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 43,992 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $19.90, for a total transaction of $875,440.80. Following the completion of the sale, the chief executive officer owned 1,231,080 shares of the company's stock, valued at approximately $24,498,492. This represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Monday, October 5th, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $18.69, for a total transaction of $150,716.16.
- On Thursday, September 3rd, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $23.66, for a total transaction of $190,794.24.
- 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 transaction of $551,133.50.
- On Wednesday, August 5th, Sean Desmond sold 11,815 shares of nCino stock. The shares were sold at an average price of $19.53, for a total transaction of $230,746.95.
nCino Stock Down 0.2%
Shares of NCNO stock opened at $19.67 on Thursday. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $27.50. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 65.57 and a beta of 0.81. The firm's 50-day moving average is $20.56 and its 200-day moving average is $18.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85.
Institutional Investors Weigh In On nCino
A number of hedge funds and other institutional investors have recently modified their holdings of NCNO. Steel Grove Capital Advisors LLC bought a new stake in shares of nCino in the third quarter valued at about $204,000. Integrated Wealth Concepts LLC acquired a new position in shares of nCino in the second quarter valued at about $344,000. IFP Advisors Inc grew its stake in shares of nCino by 7,370.4% in the second quarter. IFP Advisors Inc now owns 2,017 shares of the company's stock valued at $33,000 after acquiring an additional 1,990 shares in the last quarter. Allworth Financial LP increased its position in nCino by 282.4% during the second quarter. Allworth Financial LP now owns 13,268 shares of the company's stock worth $217,000 after acquiring an additional 9,798 shares during the period. Finally, Corient Private Wealth LP increased its position in nCino by 83.1% during the second quarter. Corient Private Wealth LP now owns 33,960 shares of the company's stock worth $555,000 after acquiring an additional 15,410 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. Citigroup reissued a "market outperform" rating on shares of nCino in a research report on Wednesday, August 26th. KeyCorp restated a "sector weight" rating on shares of nCino in a research note on Monday. Zacks Research cut nCino from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. JPMorgan Chase & Co. lifted their target price on nCino from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Monday, June 22nd. Finally, Barclays lifted their target price on nCino from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, nCino presently has an average rating of "Moderate Buy" and an average target price of $24.38.
View Our Latest Research Report on NCNO
nCino Company Profile
(
Get Free Report)
nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize and manage core banking processes through a unified, configurable operating environment.
The company's products support commercial, small-business and consumer lending; account opening and deposit origination; customer onboarding; loan and relationship management; workflow automation; and portfolio and analytics capabilities.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
