Insider Selling: nCino (NASDAQ:NCNO) CEO Sells $664,784.31 in Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 29,247 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $22.73, for a total value of $664,784.31. Following the completion of the sale, the chief executive officer owned 1,261,153 shares in the company, valued at $28,666,007.69. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Desmond also recently made the following trade(s):

• On Wednesday, November 4th, Sean Desmond sold 11,757 shares of nCino stock. The stock was sold at an average price of $22.81, for a total transaction of $268,177.17.
• On Friday, October 9th, Sean Desmond sold 43,992 shares of nCino stock. The stock was sold at an average price of $19.90, for a total transaction of $875,440.80.
• On Monday, October 5th, Sean Desmond sold 8,064 shares of nCino stock. The stock was sold at an average price of $18.69, for a total transaction of $150,716.16.
• On Thursday, September 3rd, Sean Desmond sold 8,064 shares of nCino stock. The stock was sold at an average price of $23.66, for a total transaction of $190,794.24.

nCino Trading Down 2.3%

NASDAQ:NCNO opened at $22.67 on Friday. The firm’s fifty day moving average is $21.22 and its 200-day moving average is $18.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. nCino Inc. has a 52 week low of $13.80 and a 52 week high of $27.50. The firm has a market cap of $2.40 billion, a P/E ratio of 75.57 and a beta of 0.77.

nCino News Roundup

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on NCNO. Truist Financial boosted their target price on shares of nCino from $19.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, August 26th. KeyCorp reiterated a “sector weight” rating on shares of nCino in a report on Monday, October 12th. Keefe, Bruyette & Woods lifted their price objective on nCino from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Zacks Research lowered nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Morgan Stanley boosted their price objective on nCino from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, nCino currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.42.

Institutional Trading of nCino

Several large investors have recently modified their holdings of NCNO. BlackRock Inc. bought a new stake in nCino in the second quarter valued at $147,492,000. Bank of America Corp DE acquired a new position in shares of nCino during the second quarter valued at about $84,319,000. American Capital Management Inc. bought a new position in shares of nCino during the 2nd quarter worth about $83,508,000. HMI Capital Management L.P. bought a new position in shares of nCino during the 2nd quarter worth about $81,598,000. Finally, Hawk Ridge Capital Management LP boosted its position 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 in the last quarter. 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.