Insider Selling: nCino (NASDAQ:NCNO) CEO Sells 8,064 Shares

Key Points

• nCino CEO Sean Desmond sold 8,064 shares at an average price of $23.66, generating approximately $190,794. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 0.65%.
• nCino shares recently fell 4.2% to $22.14, while the company carries a $2.34 billion market capitalization and trades at a price-to-earnings ratio of 73.80.
• Analysts maintain a consensus “Moderate Buy” rating with a $24.38 price target, and institutional investors and hedge funds own 94.76% of the company’s shares.

nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 8,064 shares of the company's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $23.66, for a total value of $190,794.24. Following the completion of the sale, the chief executive officer directly owned 1,231,080 shares of the company's stock, valued at $29,127,352.80. The trade was a 0.65% decrease in their position. The sale 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.

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

• 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 stock was sold at an average price of $19.53, for a total value of $230,746.95.
• On Monday, July 6th, Sean Desmond sold 8,064 shares of nCino stock. The stock was sold at an average price of $17.47, for a total value of $140,878.08.

nCino Stock Down 4.2%

NASDAQ:NCNO traded down $0.98 during trading hours on Tuesday, hitting $22.14. The stock had a trading volume of 2,052,473 shares, compared to its average volume of 2,928,915. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $31.92. The business has a 50 day simple moving average of $19.32 and a two-hundred day simple moving average of $17.22. The company has a market cap of $2.34 billion, a PE ratio of 73.80 and a beta of 0.69.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NCNO. Piper Sandler initiated coverage on shares of nCino in a research note on Monday, August 24th. They set an "overweight" rating and a $25.00 price target on the stock. Citizens Jmp raised their target price on nCino from $23.00 to $25.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods lifted their target price on nCino from $24.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 26th. Zacks Research cut nCino from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. increased their price target on nCino from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.38.

Institutional Trading of nCino

Several institutional investors have recently added to or reduced their stakes in NCNO. BlackRock Inc. bought a new stake in shares of nCino in the 2nd quarter worth about $147,492,000. Senvest Management LLC raised its stake in shares of nCino by 30.2% in the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company's stock valued at $79,521,000 after purchasing an additional 1,230,192 shares in the last quarter. Bank of America Corp DE bought a new position in shares of nCino during the second quarter worth about $84,319,000. American Capital Management Inc. acquired a new position in nCino in the second quarter worth about $83,508,000. Finally, HMI Capital Management L.P. acquired a new position in nCino in the second quarter worth about $81,598,000. 94.76% of the stock is owned by institutional investors and hedge funds.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.

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