Insider Selling: nCino, Inc. (NASDAQ:NCNO) Director Sells 1,167,424 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 1,167,424 shares of nCino stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $36.69, for a total transaction of $42,832,786.56. Following the sale, the director now owns 9,790,001 shares of the company’s stock, valued at approximately $359,195,136.69. This represents a 10.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jeff Horing also recently made the following trade(s):

• On Monday, December 9th, Jeff Horing sold 450,000 shares of nCino stock. The stock was sold at an average price of $37.27, for a total value of $16,771,500.00.
• On Friday, October 18th, Jeff Horing sold 1,833,975 shares of nCino stock. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50.
• On Wednesday, October 16th, Jeff Horing sold 1,356,721 shares of nCino stock. The shares were sold at an average price of $36.02, for a total value of $48,869,090.42.

nCino Trading Down 3.0 %

NASDAQ:NCNO opened at $35.46 on Monday. The company has a market capitalization of $4.11 billion, a PE ratio of -208.59, a P/E/G ratio of 16.82 and a beta of 0.59. The stock’s 50 day moving average price is $38.36 and its 200 day moving average price is $33.87. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 52-week low of $28.09 and a 52-week high of $43.20.

Wall Street Analyst Weigh In

Several research firms have commented on NCNO. Morgan Stanley dropped their price target on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, December 6th. Needham & Company LLC lifted their price objective on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Stephens boosted their price objective on nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Robert W. Baird reduced their target price on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Finally, Piper Sandler restated a “neutral” rating and issued a $38.00 price target on shares of nCino in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.38.

Institutional Investors Weigh In On nCino

A number of institutional investors and hedge funds have recently made changes to their positions in NCNO. Franklin Resources Inc. raised its stake in shares of nCino by 46.0% during the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after purchasing an additional 344,269 shares during the last quarter. Synovus Financial Corp acquired a new stake in nCino in the third quarter valued at about $656,000. Sanctuary Advisors LLC purchased a new stake in nCino in the 3rd quarter valued at approximately $189,000. Geode Capital Management LLC increased its position in nCino by 26.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock worth $47,951,000 after purchasing an additional 313,637 shares during the period. Finally, Bullseye Asset Management LLC raised its stake in shares of nCino by 58.5% during the 3rd quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock worth $4,451,000 after buying an additional 52,000 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.