Insider Selling: nCino (NASDAQ:NCNO) CEO Sells $150,716.16 in Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $18.69, for a total value of $150,716.16. Following the transaction, the chief executive officer owned 1,231,080 shares in the company, valued at $23,008,885.20. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 shares were 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 transaction of $230,746.95.

nCino Trading Down 0.2%

Shares of NCNO stock traded down $0.03 during trading hours on Wednesday, hitting $19.09. 1,870,835 shares of the company were exchanged, compared to its average volume of 2,856,503. The firm has a market cap of $2.02 billion, a PE ratio of 63.63 and a beta of 0.81. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $27.50. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average of $20.49 and a 200 day moving average of $17.87.

Hedge Funds Weigh In On nCino

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its holdings in shares of nCino by 9.1% during the first quarter. Janney Montgomery Scott LLC now owns 12,467 shares of the company’s stock valued at $187,000 after acquiring an additional 1,039 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in nCino by 4.4% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 25,915 shares of the company’s stock worth $388,000 after purchasing an additional 1,087 shares during the period. The Manufacturers Life Insurance Company grew its position in nCino by 8.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 23,973 shares of the company’s stock worth $359,000 after purchasing an additional 1,870 shares in the last quarter. IFP Advisors Inc grew its position in 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. Finally, Bleakley Financial Group LLC grew its position in nCino by 7.2% during the 1st quarter. Bleakley Financial Group LLC now owns 30,525 shares of the company’s stock worth $457,000 after purchasing an additional 2,054 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NCNO. Citigroup reiterated a “market outperform” rating on shares of nCino in a report on Wednesday, August 26th. Wall Street Zen upgraded nCino from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Barclays increased their target price on nCino from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 26th. UBS Group reissued a “buy” rating on shares of nCino in a research report on Wednesday, August 26th. Finally, BTIG Research restated a “neutral” rating on shares of nCino in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.38.

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 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.