Insider Selling: nCino (NASDAQ:NCNO) CFO Sells 12,015 Shares of Stock

nCino Inc. (NASDAQ:NCNO) CFO Gregory Orenstein sold 12,015 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total transaction of $273,100.95. Following the sale, the chief financial officer directly owned 678,498 shares of the company’s stock, valued at approximately $15,422,259.54. This trade represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

nCino Trading Down 0.9%

Shares of NASDAQ:NCNO traded down $0.22 during mid-day trading on Thursday, hitting $23.22. The company had a trading volume of 1,548,348 shares, compared to its average volume of 2,755,685. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. nCino Inc. has a one year low of $13.80 and a one year high of $27.50. The firm has a fifty day moving average price of $21.20 and a 200 day moving average price of $18.32. The company has a market capitalization of $2.46 billion, a PE ratio of 77.40 and a beta of 0.77.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NCNO shares. BTIG Research reissued a “neutral” rating on shares of nCino in a research report on Wednesday, August 26th. UBS Group restated a “buy” rating on shares of nCino in a research note on Wednesday, August 26th. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a report on Monday, October 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of nCino in a research note on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods increased their target price on shares of nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.42.

Hedge Funds Weigh In On nCino

Several hedge funds have recently bought and sold shares of NCNO. Optiver Holding B.V. purchased a new stake in nCino in the 1st quarter worth approximately $32,000. IFP Advisors Inc boosted its holdings in nCino by 7,370.4% in the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,990 shares during the period. Versant Capital Management Inc grew its position in shares of nCino by 664.9% during the 2nd quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock valued at $40,000 after purchasing an additional 2,101 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of nCino by 5,250.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company’s stock valued at $50,000 after purchasing an additional 3,255 shares in the last quarter. Finally, Essential Partners LLC grew its position in shares of nCino by 9,400.0% during the 1st quarter. Essential Partners LLC now owns 3,800 shares of the company’s stock valued at $57,000 after purchasing an additional 3,760 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

About nCino

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.