nCino (NASDAQ:NCNO) SVP Jeanette Sellers Sells 690 Shares of Stock

nCino Inc. (NASDAQ:NCNO) SVP Jeanette Sellers sold 690 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $22.70, for a total value of $15,663.00. Following the completion of the transaction, the senior vice president owned 47,763 shares in the company, valued at approximately $1,084,220.10. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, August 5th, Jeanette Sellers sold 1,536 shares of nCino stock. The shares were sold at an average price of $19.53, for a total transaction of $29,998.08.
• On Tuesday, August 4th, Jeanette Sellers sold 887 shares of nCino stock. The shares were sold at an average price of $19.22, for a total transaction of $17,048.14.

nCino Stock Down 1.7%

NCNO traded down $0.39 during trading on Monday, hitting $22.60. 2,366,988 shares of the company’s stock were exchanged, compared to its average volume of 2,951,531. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $32.53. The stock has a market cap of $2.39 billion, a P/E ratio of 75.33 and a beta of 0.66. The business’s 50 day moving average is $18.35 and its two-hundred day moving average is $16.96. 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 Analysts Forecast Growth

A number of equities research analysts recently weighed in on NCNO shares. Citizens Jmp upped their target price on shares of nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 26th. Truist Financial boosted their price objective on nCino from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, August 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of nCino in a research note on Tuesday, August 25th. Morgan Stanley raised their target price on nCino from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, August 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of nCino in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.38.

Institutional Investors Weigh In On nCino

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of nCino in the 2nd quarter worth approximately $147,492,000. Bank of America Corp DE bought a new position in shares of nCino in the second quarter valued at approximately $84,319,000. American Capital Management Inc. purchased a new stake in shares of nCino during the second quarter valued at approximately $83,508,000. HMI Capital Management L.P. purchased a new stake in shares of nCino during the second quarter valued at approximately $81,598,000. Finally, Hawk Ridge Capital Management LP raised its stake in shares of nCino by 625.4% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock worth $67,138,000 after purchasing an additional 3,864,010 shares during the period. 94.76% of the stock is owned by institutional investors.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.