Insider Selling: nCino, Inc. (NASDAQ:NCNO) Director Sells $159,951,148.50 in Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 4,474,158 shares of nCino stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $35.75, for a total value of $159,951,148.50. Following the completion of the sale, the director now directly owns 4,513,467 shares of the company’s stock, valued at $161,356,445.25. This trade represents a 49.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, December 16th, Jeff Horing sold 70,673 shares of nCino stock. The stock was sold at an average price of $36.11, for a total value of $2,552,002.03.
• On Friday, December 13th, Jeff Horing sold 20,703 shares of nCino stock. The shares were sold at an average price of $36.63, for a total transaction of $758,350.89.
• On Wednesday, December 11th, Jeff Horing sold 1,167,424 shares of nCino stock. The stock was sold at an average price of $36.69, for a total transaction of $42,832,786.56.
• On Monday, December 9th, Jeff Horing sold 450,000 shares of nCino stock. The shares were sold at an average price of $37.27, for a total transaction 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 transaction of $67,160,164.50.
• On Wednesday, October 16th, Jeff Horing sold 1,356,721 shares of nCino stock. The stock was sold at an average price of $36.02, for a total value of $48,869,090.42.

nCino Trading Up 2.0 %

NASDAQ:NCNO opened at $35.22 on Monday. The company has a market cap of $4.08 billion, a P/E ratio of -207.16, a price-to-earnings-growth ratio of 16.39 and a beta of 0.59. nCino, Inc. has a twelve month low of $28.09 and a twelve month high of $43.20. The business has a 50 day moving average price of $38.65 and a two-hundred day moving average price of $34.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

Analyst Ratings Changes

A number of brokerages have issued reports on NCNO. Piper Sandler restated a “neutral” rating and set a $38.00 target price on shares of nCino in a report on Thursday, December 5th. Needham & Company LLC lifted their price objective on shares of nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Robert W. Baird lowered their target price on shares of nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. Barclays lifted their price target on shares of nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, November 25th. Finally, Truist Financial restated a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after buying an additional 344,269 shares during the last quarter. Synovus Financial Corp bought a new position in shares of nCino in the 3rd quarter valued at about $656,000. Sanctuary Advisors LLC acquired a new stake in shares of nCino in the third quarter valued at about $189,000. Geode Capital Management LLC raised its holdings in nCino by 26.1% during the third quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock worth $47,951,000 after acquiring an additional 313,637 shares in the last quarter. Finally, Bullseye Asset Management LLC boosted its position in nCino by 58.5% during the third quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock valued at $4,451,000 after purchasing an additional 52,000 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.