nCino Inc. (NASDAQ:NCNO – Get Free Report) CEO Sean Desmond sold 43,992 shares of the business’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $19.90, for a total transaction of $875,440.80. Following the completion of the transaction, the chief executive officer owned 1,231,080 shares of the company’s stock, valued at $24,498,492. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 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 shares were 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 2.9%
Shares of nCino stock opened at $20.51 on Friday. The firm’s 50 day moving average price is $20.63 and its 200-day moving average price is $18.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $27.50. The company has a market cap of $2.17 billion, a P/E ratio of 68.37 and a beta of 0.81.
Institutional Investors Weigh In On nCino
A number of large investors have recently modified their holdings of NCNO. Optiver Holding B.V. purchased a new position in shares of nCino in the 1st quarter valued at approximately $32,000. IFP Advisors Inc boosted its stake in nCino by 7,370.4% in the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,990 shares in the last quarter. Versant Capital Management Inc grew its position in nCino by 664.9% during the 2nd quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after purchasing an additional 2,101 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in nCino by 5,250.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company’s stock worth $50,000 after purchasing an additional 3,255 shares during the last quarter. Finally, Essential Partners LLC grew its position in nCino by 9,400.0% during the 1st quarter. Essential Partners LLC now owns 3,800 shares of the company’s stock worth $57,000 after purchasing an additional 3,760 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. KeyCorp restated a “sector weight” rating on shares of nCino in a research note on Monday. Citizens Jmp lifted their price target on shares of nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 26th. Zacks Research downgraded nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Piper Sandler initiated coverage on nCino in a report on Monday, August 24th. They set an “overweight” rating and a $25.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their price objective on nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, nCino presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.38.
View Our Latest Analysis on NCNO
About nCino
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.
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