nCino (NASDAQ:NCNO) CEO Sean Desmond Sells 11,757 Shares of Company Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 11,757 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $22.81, for a total transaction of $268,177.17. Following the transaction, the chief executive officer directly owned 1,257,460 shares of the company’s stock, valued at $28,682,662.60. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Tuesday, November 3rd, Sean Desmond sold 29,247 shares of nCino stock. The stock was sold at an average price of $22.73, for a total transaction of $664,784.31.
• 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 Price Performance

nCino stock opened at $23.21 on Friday. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $27.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The business’s 50 day simple moving average is $21.23 and its 200 day simple moving average is $18.32. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 77.37 and a beta of 0.77.

Analysts Set New Price Targets

Several analysts have issued reports on NCNO shares. Stephens assumed coverage on nCino in a research note on Friday, October 16th. They issued an “overweight” rating and a $26.00 target price on the stock. Wall Street Zen upgraded nCino from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. UBS Group reissued a “buy” rating on shares of nCino in a report on Wednesday, August 26th. BTIG Research restated a “neutral” rating on shares of nCino in a research note on Wednesday, August 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and an average price target of $23.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in nCino in the 2nd quarter valued at approximately $147,492,000. Senvest Management LLC raised its holdings in nCino by 30.2% during the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock valued at $79,521,000 after acquiring an additional 1,230,192 shares during the period. Bank of America Corp DE bought a new stake in nCino during the 2nd quarter valued at $84,319,000. American Capital Management Inc. purchased a new stake in shares of nCino during the second quarter worth $83,508,000. Finally, HMI Capital Management L.P. purchased a new stake in shares of nCino during the second quarter worth $81,598,000. 94.76% of the stock is owned by institutional investors.

Trending Headlines about nCino

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

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 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.