Insider Selling: nCino (NASDAQ:NCNO) Director Sells $108,422.10 in Stock

Key Points

• Director Pierre Naude sold 4,770 nCino shares for $108,422, a 0.43% reduction in his holdings. The sale was to cover tax withholding on vested equity awards, and he retained more than 1.11 million shares.
• nCino has launched an AI suite ahead of its December earnings report, which may offer investors insight into product adoption and business impact.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $23.42; shares recently traded at $23.22.

nCino Inc. (NASDAQ:NCNO - Get Free Report) Director Pierre Naude sold 4,770 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total value of $108,422.10. Following the transaction, the director directly owned 1,111,937 shares in the company, valued at $25,274,328.01. The trade was a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

nCino Stock Down 0.9%

Shares of nCino stock traded down $0.22 during trading on Thursday, hitting $23.22. 1,548,348 shares of the stock traded hands, compared to its average volume of 2,755,685. The firm has a market cap of $2.46 billion, a P/E ratio of 77.40 and a beta of 0.77. 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 52-week low of $13.80 and a 52-week high of $27.50. The stock's fifty day simple moving average is $21.20 and its 200 day simple moving average is $18.32.

Key nCino News

Here are the key news stories impacting nCino this week:

• Positive Sentiment: nCino has launched an AI suite ahead of its December earnings report, adding a new product development for investors to watch. The upcoming results may provide more detail on adoption and business impact. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several executives and directors, including CEO Sean Desmond, reported share sales. The CEO’s transactions were made under a pre-arranged Rule 10b5-1 plan, and the reported sales were to cover tax withholding on vested equity awards. That context makes the disclosures less concerning than discretionary sales, though they could still create a modest sentiment overhang. SEC filing

Hedge Funds Weigh In On nCino

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of nCino in the second quarter worth about $147,492,000. Senvest Management LLC increased its holdings in shares of 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 purchasing an additional 1,230,192 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of nCino in the second quarter worth about $84,319,000. American Capital Management Inc. purchased a new stake in shares of nCino during the 2nd quarter worth about $83,508,000. Finally, HMI Capital Management L.P. purchased a new stake in shares of nCino during the 2nd quarter worth about $81,598,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of nCino from $24.00 to $25.00 and gave the company an "outperform" rating in a research report on Wednesday, August 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $25.00 price target on shares of nCino in a research report on Wednesday, August 26th. Piper Sandler assumed coverage on shares of nCino in a research note on Monday, August 24th. They set an "overweight" rating and a $25.00 price objective on the stock. Citigroup reissued a "market outperform" rating on shares of nCino in a report on Wednesday, August 26th. Finally, Truist Financial boosted their price objective on shares of nCino from $19.00 to $20.00 and gave the stock a "hold" rating in a research note on Wednesday, August 26th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, nCino currently has an average rating of "Moderate Buy" and an average target price 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.

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