April Rieger Sells 6,098 Shares of nCino (NASDAQ:NCNO) Stock

Key Points

• nCino insider April Rieger sold 6,098 shares at an average price of $21.98, generating $134,034. The sale was made to cover tax withholding tied to vested equity awards, leaving her with 369,651 shares.
• nCino shares recently traded at $21.41, with a market capitalization of approximately $2.26 billion and a 52-week range of $13.80 to $31.23.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $24.38; institutional investors own 94.76% of the stock.

nCino Inc. (NASDAQ:NCNO - Get Free Report) insider April Rieger sold 6,098 shares of the firm's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $21.98, for a total transaction of $134,034.04. Following the completion of the transaction, the insider directly owned 369,651 shares of the company's stock, valued at approximately $8,124,928.98. This trade represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

April Rieger also recently made the following trade(s):

• On Tuesday, August 4th, April Rieger sold 7,852 shares of nCino stock. The shares were sold at an average price of $19.22, for a total transaction of $150,915.44.

nCino Price Performance

Shares of NASDAQ:NCNO traded down $0.29 on Thursday, reaching $21.41. The company's stock had a trading volume of 2,067,165 shares, compared to its average volume of 2,912,994. The company has a 50-day simple moving average of $19.91 and a 200 day simple moving average of $17.52. 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 company has a market cap of $2.26 billion, a P/E ratio of 71.37 and a beta of 0.69. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $31.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group reaffirmed a "buy" rating on shares of nCino in a research note on Wednesday, August 26th. Piper Sandler started coverage on shares of nCino in a research note on Monday, August 24th. They set an "overweight" rating and a $25.00 price objective for the company. Morgan Stanley increased their target price on shares of nCino from $23.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday, August 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price target on shares of nCino in a research note on Wednesday, August 26th. Finally, Truist Financial increased their price objective on shares of nCino from $19.00 to $20.00 and gave the stock a "hold" rating in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NCNO. American Capital Management Inc. acquired a new stake in shares of nCino in the 2nd quarter worth $83,508,000. Hawk Ridge Capital Management LP increased its position in nCino by 625.4% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company's stock valued at $67,138,000 after buying an additional 3,864,010 shares in the last quarter. Algebris UK Ltd. raised its stake in nCino by 266.2% in the fourth quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company's stock valued at $26,493,000 after buying an additional 750,744 shares during the last quarter. Spyglass Capital Management LLC raised its stake in nCino by 6.0% in the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company's stock valued at $46,217,000 after buying an additional 175,357 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in nCino in the fourth quarter worth about $3,982,000. 94.76% of the stock is currently owned by institutional investors.

nCino Company Profile

nCino, Inc NASDAQ: NCNO provides cloud-based software designed to help banks, credit unions and other financial institutions manage and modernize their operations. Its platform, known as the nCino Bank Operating System, is built to streamline processes, improve collaboration and provide a unified view of customer and financial data.

The company's products support commercial, small-business, consumer and mortgage lending, as well as account opening, deposit origination, onboarding, credit analysis, portfolio management and regulatory compliance.

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