nCino (NASDAQ:NCNO) CEO Sells 8,064 Shares of Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $17.47, for a total transaction of $140,878.08. Following the sale, the chief executive officer owned 1,262,492 shares of the company’s stock, valued at approximately $22,055,735.24. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Wednesday, June 3rd, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $16.26, for a total value of $131,120.64.
• On Tuesday, May 5th, Sean Desmond sold 16,589 shares of nCino stock. The stock was sold at an average price of $18.04, for a total value of $299,265.56.
• On Monday, May 4th, Sean Desmond sold 22,073 shares of nCino stock. The shares were sold at an average price of $18.02, for a total value of $397,755.46.

nCino Trading Down 4.0%

NCNO stock traded down $0.72 during trading on Wednesday, hitting $17.34. 3,399,109 shares of the company traded hands, compared to its average volume of 3,117,453. The company has a 50-day moving average of $16.01 and a 200-day moving average of $18.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $33.92. The firm has a market capitalization of $1.90 billion, a PE ratio of 144.50 and a beta of 0.68.

Institutional Trading of nCino

Several large investors have recently added to or reduced their stakes in NCNO. Millennium Management LLC raised its holdings in nCino by 16.6% in the 1st quarter. Millennium Management LLC now owns 303,853 shares of the company’s stock worth $8,347,000 after purchasing an additional 43,247 shares in the last quarter. Woodline Partners LP boosted its stake in shares of nCino by 105.3% during the 1st quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock valued at $363,000 after purchasing an additional 6,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of nCino by 16.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock valued at $7,731,000 after buying an additional 39,345 shares during the period. Prudential Financial Inc. bought a new position in nCino in the second quarter worth about $208,000. Finally, Marshall Wace LLP bought a new position in nCino in the second quarter worth about $4,163,000. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on NCNO. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, June 24th. Weiss Ratings raised shares of nCino from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Barclays boosted their price objective on shares of nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Stephens lowered their price objective on shares of nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Finally, Robert W. Baird dropped their target price on shares of nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, nCino has a consensus rating of “Moderate Buy” and a consensus target price of $25.29.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.