Sean Desmond Sells 5,034 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 5,034 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40. Following the sale, the chief executive officer now owns 306,477 shares in the company, valued at $9,991,150.20. The trade was a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

nCino Price Performance

Shares of NASDAQ NCNO opened at $32.44 on Friday. The stock has a 50 day moving average of $34.64 and a two-hundred day moving average of $34.53. The stock has a market cap of $3.76 billion, a P/E ratio of -190.81, a P/E/G ratio of 13.00 and a beta of 0.65. nCino, Inc. has a twelve month low of $28.09 and a twelve month high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley lowered their price target on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Keefe, Bruyette & Woods boosted their target price on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. UBS Group started coverage on nCino in a research note on Monday, December 16th. They issued a “buy” rating and a $44.00 price target on the stock. Macquarie upped their price objective on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Long Path Partners LP increased its position in nCino by 43.7% in the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after acquiring an additional 1,131,271 shares during the period. ShawSpring Partners LLC raised its stake in shares of nCino by 115.9% during the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after purchasing an additional 1,424,349 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in shares of nCino by 65.1% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after purchasing an additional 828,124 shares during the period. Conestoga Capital Advisors LLC purchased a new position in nCino in the 4th quarter valued at $70,256,000. Finally, Brown Brothers Harriman & Co. increased its stake in nCino by 55.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock valued at $65,261,000 after buying an additional 736,627 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

About nCino

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.