Jeanette Sellers Sells 690 Shares of nCino (NASDAQ:NCNO) Stock

Key Points

• nCino SVP Jeanette Sellers sold 690 shares at an average price of $22.70, generating $15,663. After the transaction, she directly owned 47,763 shares; the sale followed two additional disposals earlier in August.
• nCino shares fell 1.7% to $22.60, giving the company a market capitalization of approximately $2.39 billion. The stock trades at a price-to-earnings ratio of 75.33 and has ranged between $13.80 and $32.53 over the past year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $24.38, while institutional investors own 94.76% of the company’s stock.

nCino Inc. (NASDAQ:NCNO - Get Free Report) SVP Jeanette Sellers sold 690 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $22.70, for a total value of $15,663.00. Following the transaction, the senior vice president directly owned 47,763 shares of the company's stock, valued at approximately $1,084,220.10. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Jeanette Sellers also recently made the following trade(s):

• On Wednesday, August 5th, Jeanette Sellers sold 1,536 shares of nCino stock. The shares were sold at an average price of $19.53, for a total value of $29,998.08.
• On Tuesday, August 4th, Jeanette Sellers sold 887 shares of nCino stock. The stock was sold at an average price of $19.22, for a total value of $17,048.14.

nCino Trading Down 1.7%

NASDAQ:NCNO traded down $0.39 on Monday, reaching $22.60. 2,366,988 shares of the stock traded hands, compared to its average volume of 2,951,531. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 75.33 and a beta of 0.66. The company's 50 day moving average is $18.35 and its 200-day moving average is $16.96. 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 $32.53.

Wall Street Analysts Forecast Growth

NCNO has been the topic of several recent analyst reports. BTIG Research restated a "neutral" rating on shares of nCino in a report on Wednesday, August 26th. Barclays lifted their price objective on nCino from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 26th. Weiss Ratings restated a "sell (d+)" rating on shares of nCino in a research report on Tuesday, August 25th. The Goldman Sachs Group dropped their price target on nCino from $24.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, May 14th. Finally, Zacks Research cut nCino from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, nCino has an average rating of "Moderate Buy" and an average target price of $24.38.

Hedge Funds Weigh In On nCino

Several institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LP grew its stake in shares of nCino by 83.1% in the 2nd quarter. Corient Private Wealth LP now owns 33,960 shares of the company's stock valued at $555,000 after buying an additional 15,410 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in nCino in the 2nd quarter valued at about $455,000. California State Teachers Retirement System raised its stake in nCino by 1,489.3% during the 2nd quarter. California State Teachers Retirement System now owns 2,062,193 shares of the company's stock worth $33,717,000 after buying an additional 1,932,437 shares during the period. HB Wealth Management LLC acquired a new position in nCino during the 2nd quarter worth approximately $287,000. Finally, Angeles Wealth Management LLC boosted its holdings in nCino by 85.2% in the second quarter. Angeles Wealth Management LLC now owns 33,958 shares of the company's stock worth $555,000 after acquiring an additional 15,621 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

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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