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

Key Points

• CEO Sean Desmond sold 11,757 nCino shares for about $268,177, under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards. He retained 1,257,460 shares after the sale.
• nCino shares fell 0.9% to $23.22 on Thursday. Analysts’ consensus rating was Moderate Buy, with a $23.42 average price target.
• Institutional investors owned 94.76% of nCino’s stock, with several firms adding to or initiating positions.

nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 11,757 shares of the company's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $22.81, for a total value of $268,177.17. Following the completion of the sale, the chief executive officer directly owned 1,257,460 shares of the company's stock, valued at $28,682,662.60. The trade was a 0.93% 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. 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 value 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 value of $875,440.80.
• On Monday, October 5th, Sean Desmond sold 8,064 shares of nCino stock. The shares were 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 shares were sold at an average price of $23.66, for a total transaction of $190,794.24.

nCino Stock Down 0.9%

Shares of NASDAQ NCNO traded down $0.22 during trading on Thursday, reaching $23.22. 1,548,348 shares of the stock were exchanged, compared to its average volume of 2,755,685. The business's 50-day moving average price is $21.20 and its 200 day moving average price is $18.32. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $27.50. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 77.40 and a beta of 0.77.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of nCino from a "hold" rating to a "buy" rating in a research note on Saturday, August 22nd. Piper Sandler started coverage on nCino in a research note on Monday, August 24th. They issued an "overweight" rating and a $25.00 price target on the stock. Needham & Company LLC restated a "buy" rating and set a $25.00 price objective on shares of nCino in a report on Wednesday, August 26th. Barclays upped their target price on nCino from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Wednesday, August 26th. Finally, Citizens Jmp raised their price target on shares of nCino from $23.00 to $25.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.42.

Institutional Trading of nCino

Several institutional investors have recently added to or reduced their stakes in NCNO. BlackRock Inc. bought a new position in shares of nCino in the 2nd quarter worth about $147,492,000. Senvest Management LLC boosted its holdings 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 buying an additional 1,230,192 shares during the period. Bank of America Corp DE bought a new stake in shares of nCino during the 2nd quarter valued at about $84,319,000. American Capital Management Inc. bought a new stake in shares of nCino during the 2nd quarter valued at about $83,508,000. Finally, HMI Capital Management L.P. bought a new stake in shares of nCino during the 2nd quarter valued at about $81,598,000. Institutional investors own 94.76% of the company's stock.

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.

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