nCino (NASDAQ:NCNO) CEO Sean Desmond Sells 43,992 Shares of Stock

Key Points

• nCino CEO Sean Desmond sold 43,992 shares at an average price of $19.90, generating approximately $875,441. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 3.45% to 1,231,080 shares.
• nCino shares recently traded at $19.67, giving the company a market capitalization of about $2.08 billion. The stock is down slightly and remains below its 50-day moving average of $20.56.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $24.38; institutional investors own approximately 94.76% of the company.

nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 43,992 shares of nCino stock in a transaction on Friday, October 9th. The stock was sold at an average price of $19.90, for a total transaction of $875,440.80. Following the transaction, the chief executive officer directly owned 1,231,080 shares in the company, valued at $24,498,492. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• 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 transaction 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 transaction of $230,746.95.

nCino Stock Down 0.2%

NCNO stock traded down $0.04 during trading on Wednesday, reaching $19.67. The stock had a trading volume of 1,140,416 shares, compared to its average volume of 2,823,426. 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 $2.08 billion, a price-to-earnings ratio of 65.57 and a beta of 0.81. nCino Inc. has a one year low of $13.80 and a one year high of $27.50. The company's 50 day moving average is $20.56 and its two-hundred day moving average is $18.03.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NCNO. UBS Group reaffirmed a "buy" rating on shares of nCino in a research report on Wednesday, August 26th. Citigroup reiterated a "market outperform" rating on shares of nCino in a report on Wednesday, August 26th. BTIG Research reissued a "neutral" rating on shares of nCino in a research report on Wednesday, August 26th. Weiss Ratings restated a "sell (d+)" rating on shares of nCino in a research note on Tuesday, August 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 target price on shares of nCino in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.38.

Institutional Trading of nCino

Several hedge funds have recently added to or reduced their stakes in NCNO. BlackRock Inc. bought a new position in nCino during the second quarter valued at $147,492,000. Bank of America Corp DE bought a new stake in shares of nCino in the second quarter valued at $84,319,000. American Capital Management Inc. bought a new stake in shares of nCino in the second quarter valued at $83,508,000. HMI Capital Management L.P. purchased a new position in shares of nCino during the 2nd quarter valued at $81,598,000. Finally, Hawk Ridge Capital Management LP lifted its position in shares of 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 during the last quarter. Institutional investors own 94.76% of the company's stock.

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 and manage core banking processes through a unified, configurable operating environment.

The company's products support commercial, small-business and consumer lending; account opening and deposit origination; customer onboarding; loan and relationship management; workflow automation; and portfolio and analytics capabilities.

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