Key Points
- nCino CEO Sean Desmond sold 29,247 shares for about $665,000 at an average price of $22.73, reducing his stake by 2.27%. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
- After the transaction, Desmond directly owned 1,261,153 shares, valued at approximately $28.7 million.
- nCino’s AI suite launch is being watched ahead of its December earnings report. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $23.42.
nCino Inc. (NASDAQ:NCNO - Get Free Report) SVP Jeanette Sellers sold 905 shares of the company's stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $22.73, for a total value of $20,570.65. Following the completion of the sale, the senior vice president directly owned 46,858 shares in the company, valued at approximately $1,065,082.34. The trade was a 1.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Jeanette Sellers also recently made the following trade(s):
- On Thursday, August 27th, Jeanette Sellers sold 690 shares of nCino stock. The shares were sold at an average price of $22.70, for a total value of $15,663.00.
nCino Stock Performance
nCino stock opened at $23.21 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average of $21.23 and a two-hundred day moving average of $18.32. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 77.37 and a beta of 0.77. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $27.50.
Institutional Trading of nCino
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of nCino during the 2nd quarter valued at about $147,492,000. Bank of America Corp DE purchased a new position in shares of nCino during the 2nd quarter worth about $84,319,000. American Capital Management Inc. acquired a new stake in shares of nCino in the second quarter worth approximately $83,508,000. HMI Capital Management L.P. acquired a new stake in shares of nCino in the second quarter worth approximately $81,598,000. Finally, Hawk Ridge Capital Management LP grew its holdings in nCino by 625.4% in the first 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 during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on NCNO. Zacks Research lowered nCino from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Morgan Stanley boosted their target price on shares of nCino from $23.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday, August 26th. Piper Sandler assumed coverage on shares of nCino in a report on Monday, August 24th. They issued an "overweight" rating and a $25.00 target price on the stock. Barclays raised their price target on shares of nCino from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 26th. Finally, Truist Financial raised 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $23.42.
Read Our Latest Stock Analysis on nCino
Trending Headlines about nCino
Here are the key news stories impacting nCino this week:
- Positive Sentiment: Coverage highlights nCino’s AI suite launch as the company approaches its December earnings report. The product could provide a growth opportunity, while results and management’s outlook will be important catalysts. Article: nCino stock approaches December earnings after AI suite launch
- Neutral Sentiment: Several executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold a combined 66,702 shares. Most sales were to cover tax withholding from equity awards; the CEO’s sales were under a pre-arranged trading plan. The transactions may attract attention, but their stated purpose makes them a limited signal of management’s view of NCNO shares. SEC filing
About nCino
(
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 banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.
The company's products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.
Read More
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].
