Insider Selling: nCino (NASDAQ:NCNO) Director Sells $108,422.10 in Stock

nCino Inc. (NASDAQ:NCNO) Director Pierre Naude sold 4,770 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $22.73, for a total value of $108,422.10. Following the completion of the sale, the director directly owned 1,111,937 shares in the company, valued at approximately $25,274,328.01. This represents a 0.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

nCino Stock Performance

nCino stock opened at $22.67 on Friday. The firm has a market capitalization of $2.40 billion, a P/E ratio of 75.57 and a beta of 0.77. The stock has a fifty day moving average price of $21.22 and a two-hundred day moving average price of $18.32. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $27.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85.

Hedge Funds Weigh In On nCino

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of nCino during the second quarter worth about $147,492,000. Senvest Management LLC raised its holdings in nCino by 30.2% in the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock valued at $79,521,000 after acquiring an additional 1,230,192 shares in the last quarter. Bank of America Corp DE acquired a new position in nCino during the second quarter worth about $84,319,000. American Capital Management Inc. bought a new position in nCino in the second quarter valued at about $83,508,000. Finally, HMI Capital Management L.P. bought a new stake in shares of nCino in the 2nd quarter valued at $81,598,000. Institutional investors own 94.76% of the company’s stock.

Key nCino News

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

Analyst Upgrades and Downgrades

NCNO has been the subject of several analyst reports. Keefe, Bruyette & Woods lifted their price target 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 reaffirmed a “buy” rating and set a $25.00 price objective on shares of nCino in a research note on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Barclays lifted their target price on shares of nCino from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, August 26th. Finally, Citigroup reiterated a “market outperform” rating on shares of nCino in a research note on Wednesday, August 26th. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.42.

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.