nCino (NASDAQ:NCNO) CEO Sean Desmond Sells 29,247 Shares of Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 29,247 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 1,261,153 shares in the company, valued at $28,666,007.69. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value 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 value 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 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.

nCino Trading Down 1.0%

NCNO opened at $23.21 on Friday. nCino Inc. has a one year low of $13.80 and a one year high of $27.50. The company has a market cap of $2.45 billion, a P/E ratio of 77.37 and a beta of 0.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50-day simple moving average is $21.23 and its 200-day simple moving average is $18.32.

Institutional Trading of nCino

Institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in shares of nCino by 9.1% in the first quarter. Janney Montgomery Scott LLC now owns 12,467 shares of the company’s stock valued at $187,000 after purchasing an additional 1,039 shares during the period. Kornitzer Capital Management Inc. KS raised its stake in shares of nCino by 4.4% during the first 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 last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of nCino by 8.5% during the first 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 during the period. IFP Advisors Inc lifted its holdings in shares of nCino by 7,370.4% during the second quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,990 shares during the period. Finally, Angeles Wealth Management LLC grew its position in nCino by 6.0% in the 3rd quarter. Angeles Wealth Management LLC now owns 36,010 shares of the company’s stock valued at $653,000 after buying an additional 2,052 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Key nCino News

Here are the key news stories impacting nCino this week:

• Positive Sentiment: Coverage highlights nCino’s AI suite launch as the company approaches its December earnings report. The product could provide a growth opportunity, while results and management’s outlook will be important catalysts. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold a combined 66,702 shares. Most sales were to cover tax withholding from equity awards; the CEO’s sales were under a pre-arranged trading plan. The transactions may attract attention, but their stated purpose makes them a limited signal of management’s view of NCNO shares. SEC filing

Wall Street Analysts Forecast Growth

NCNO has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of nCino from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, August 26th. BTIG Research restated a “neutral” rating on shares of nCino in a research report on Wednesday, August 26th. Weiss Ratings restated a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Citizens Jmp increased their target price on shares of nCino from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 26th. Finally, Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. One 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 given a Sell rating to the company’s stock. According to MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and an average price target of $23.42.

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.