nCino (NASDAQ:NCNO) CEO Sean Desmond Sells 43,992 Shares of Company Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 43,992 shares of the company’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $19.90, for a total transaction of $875,440.80. Following the completion of the sale, the chief executive officer owned 1,231,080 shares of the company’s stock, valued at approximately $24,498,492. This represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value 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 value of $190,794.24.
• On Tuesday, August 4th, Sean Desmond sold 28,675 shares of nCino stock. The stock was sold at an average price of $19.22, for a total value of $551,133.50.
• On Wednesday, August 5th, Sean Desmond sold 11,815 shares of nCino stock. The shares were sold at an average price of $19.53, for a total value of $230,746.95.

nCino Stock Down 0.2%

NASDAQ:NCNO opened at $19.67 on Thursday. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $27.50. The stock has a 50-day moving average price of $20.56 and a two-hundred day moving average price of $18.06. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 65.57 and a beta of 0.81. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34.

Wall Street Analysts Forecast Growth

NCNO has been the subject of several research analyst reports. Citizens Jmp boosted their price objective on nCino from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 26th. Truist Financial increased their target price on nCino from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods raised their target price on shares of nCino from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, August 26th. JPMorgan Chase & Co. raised their target price on shares of nCino from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, June 22nd. Finally, Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.38.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Steel Grove Capital Advisors LLC acquired a new position in shares of nCino during the 3rd quarter worth approximately $204,000. Integrated Wealth Concepts LLC bought a new stake in shares of nCino during the 2nd quarter worth approximately $344,000. IFP Advisors Inc raised its stake in shares of nCino by 7,370.4% during the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,990 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of nCino by 282.4% in the 2nd quarter. Allworth Financial LP now owns 13,268 shares of the company’s stock valued at $217,000 after buying an additional 9,798 shares during the last quarter. Finally, Corient Private Wealth LP boosted its holdings in shares of nCino by 83.1% in the 2nd quarter. Corient Private Wealth LP now owns 33,960 shares of the company’s stock valued at $555,000 after buying an additional 15,410 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

About nCino

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 and manage core banking processes through a unified, configurable operating environment.

The company’s products support commercial, small-business and consumer lending; account opening and deposit origination; customer onboarding; loan and relationship management; workflow automation; and portfolio and analytics capabilities.