nCino (NASDAQ:NCNO) SVP Jeanette Sellers Sells 905 Shares of Stock

nCino Inc. (NASDAQ:NCNO) SVP Jeanette Sellers sold 905 shares of nCino stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $22.73, for a total transaction of $20,570.65. Following the transaction, the senior vice president owned 46,858 shares of the company’s stock, valued at $1,065,082.34. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jeanette Sellers also recently made the following trade(s):

• On Thursday, August 27th, Jeanette Sellers sold 690 shares of nCino stock. The stock was sold at an average price of $22.70, for a total transaction of $15,663.00.

nCino Stock Down 0.9%

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

nCino News Roundup

Here are the key news stories impacting nCino this week:

• Positive Sentiment: nCino has launched an AI suite ahead of its December earnings report, adding a new product development for investors to watch. The upcoming results may provide more detail on adoption and business impact. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several executives and directors, including CEO Sean Desmond, reported share sales. The CEO’s transactions were made under a pre-arranged Rule 10b5-1 plan, and the reported sales were to cover tax withholding on vested equity awards. That context makes the disclosures less concerning than discretionary sales, though they could still create a modest sentiment overhang. SEC filing

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NCNO. KeyCorp reissued a “sector weight” rating on shares of nCino in a research note on Monday, October 12th. Zacks Research cut nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods upped their price target on nCino from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, August 26th. Morgan Stanley upped their price target on nCino from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of nCino in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, nCino has a consensus rating of “Moderate Buy” and a consensus price target of $23.42.

Institutional Investors Weigh In On nCino

Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in nCino in the second quarter worth $147,492,000. Senvest Management LLC lifted its position in shares of nCino by 30.2% during the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock valued at $79,521,000 after buying an additional 1,230,192 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of nCino during the 2nd quarter valued at $84,319,000. American Capital Management Inc. purchased a new position in shares of nCino during the 2nd quarter valued at $83,508,000. Finally, HMI Capital Management L.P. bought a new position in shares of nCino during the 2nd quarter worth $81,598,000. Hedge funds and other institutional investors 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.