nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing Sells 4,474,158 Shares

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 4,474,158 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $35.75, for a total value of $159,951,148.50. Following the completion of the sale, the director now directly owns 4,513,467 shares in the company, valued at $161,356,445.25. This trade represents a 49.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Jeff Horing also recently made the following trade(s):

• On Monday, December 16th, Jeff Horing sold 70,673 shares of nCino stock. The stock was sold at an average price of $36.11, for a total transaction of $2,552,002.03.
• On Friday, December 13th, Jeff Horing sold 20,703 shares of nCino stock. The shares were sold at an average price of $36.63, for a total transaction of $758,350.89.
• On Wednesday, December 11th, Jeff Horing sold 1,167,424 shares of nCino stock. The shares were sold at an average price of $36.69, for a total value of $42,832,786.56.
• On Monday, December 9th, Jeff Horing sold 450,000 shares of nCino stock. The shares were sold at an average price of $37.27, for a total value of $16,771,500.00.
• On Friday, October 18th, Jeff Horing sold 1,833,975 shares of nCino stock. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50.
• On Wednesday, October 16th, Jeff Horing sold 1,356,721 shares of nCino stock. The stock was sold at an average price of $36.02, for a total transaction of $48,869,090.42.

nCino Trading Up 2.0 %

Shares of NCNO stock traded up $0.68 on Friday, hitting $35.22. The company had a trading volume of 2,272,972 shares, compared to its average volume of 1,127,989. nCino, Inc. has a twelve month low of $28.09 and a twelve month high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $4.08 billion, a P/E ratio of -207.16, a P/E/G ratio of 16.39 and a beta of 0.59. The stock’s 50-day moving average is $38.63 and its two-hundred day moving average is $33.95.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of nCino by 8.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock valued at $244,766,000 after purchasing an additional 635,064 shares during the period. Long Path Partners LP lifted its stake in nCino by 43.7% in the third quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after buying an additional 1,131,271 shares during the period. ShawSpring Partners LLC boosted its holdings in shares of nCino by 115.9% during the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after buying an additional 1,424,349 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in shares of nCino by 65.1% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after buying an additional 828,124 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in shares of 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 acquiring an additional 736,627 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

NCNO has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. William Blair reissued an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Truist Financial reiterated a “buy” rating and set a $44.00 price objective (up from $37.00) on shares of nCino in a report on Monday, October 21st. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Tuesday, September 3rd. Finally, Macquarie increased their price target on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

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.