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

nCino Inc. (NASDAQ:NCNO) insider April Rieger sold 8,008 shares of the firm’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 $182,021.84. Following the completion of the transaction, the insider owned 361,643 shares of the company’s stock, valued at approximately $8,220,145.39. This represents a 2.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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

Shares of nCino stock traded down $0.22 on Thursday, hitting $23.22. The company’s stock had a trading volume of 1,548,348 shares, compared to its average volume of 2,755,685. The company has a market capitalization of $2.46 billion, a P/E ratio of 77.40 and a beta of 0.77. nCino Inc. has a 52-week low of $13.80 and a 52-week 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 quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NCNO. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of nCino in a research note on Wednesday, August 26th. Stephens assumed coverage on nCino in a report on Friday, October 16th. They set an “overweight” rating and a $26.00 target price on the stock. UBS Group reissued a “buy” rating on shares of nCino in a report on Wednesday, August 26th. Morgan Stanley upped their price objective on nCino from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, August 26th. Finally, Wall Street Zen raised nCino from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.42.

Institutional Trading of nCino

A number of 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 shares of nCino by 7,370.4% during the second quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,990 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of nCino by 664.9% during the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after purchasing an additional 2,101 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of nCino by 5,250.0% in the first 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 during the period. Finally, Essential Partners LLC grew its position in shares of nCino by 9,400.0% in the first 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 during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.