nCino (NASDAQ:NCNO) Stock: Insider April Rieger Sells 8,008 Shares

nCino Inc. (NASDAQ:NCNO) insider April Rieger sold 8,008 shares of the stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $22.73, for a total value of $182,021.84. Following the sale, the insider directly owned 361,643 shares in the company, valued at $8,220,145.39. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

April Rieger also recently made the following trade(s):

• On Tuesday, September 15th, April Rieger sold 6,098 shares of nCino stock. The stock was sold at an average price of $21.98, for a total transaction of $134,034.04.

nCino Price Performance

nCino stock opened at $22.67 on Friday. The business has a fifty day moving average of $21.22 and a two-hundred day moving average of $18.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. nCino Inc. has a one year low of $13.80 and a one year high of $27.50. The company has a market cap of $2.40 billion, a P/E ratio of 75.57 and a beta of 0.77.

Institutional Investors Weigh In On nCino

Large investors have recently added to or reduced their stakes in the business. Fulcrum Asset Management LLP purchased a new position in shares of nCino during the third quarter valued at approximately $467,000. CenterBook Partners LP acquired a new stake in shares of nCino during the third quarter worth about $1,001,000. Commonwealth Equity Services LLC acquired a new position in shares of nCino during the 3rd quarter worth approximately $206,000. Cowa LLC lifted its position in shares of nCino by 20.6% during the 3rd quarter. Cowa LLC now owns 21,650 shares of the company’s stock worth $393,000 after buying an additional 3,700 shares during the last quarter. Finally, Integrity Alliance LLC. bought a new stake in nCino during the third quarter valued at $562,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NCNO has been the topic of several recent research reports. Citigroup reiterated a “market outperform” rating on shares of nCino in a report on Wednesday, August 26th. Keefe, Bruyette & Woods upped their price objective on shares of nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Needham & Company LLC restated a “buy” rating and set a $25.00 price objective on shares of nCino in a research report on Wednesday, August 26th. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research report on Monday, October 12th. Finally, Zacks Research lowered shares of nCino from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.42.

Key Stories Impacting nCino

Here are the key news stories impacting nCino this week:

• Positive Sentiment: nCino’s recently launched AI suite could offer a growth opportunity. Investor attention may turn to adoption and management’s outlook when the company reports earnings in December. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several nCino executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold shares. The reported transactions totaled about 66,700 shares, but were described as covering tax withholding on vested equity awards; the CEO’s sales were made under a pre-arranged trading plan. This may draw attention, though the stated reasons make it a limited indicator of their view on NCNO. Article: Insider Selling: nCino SVP Sells 905 Shares

nCino Company Profile

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 banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.

The company’s products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.