nCino (NASDAQ:NCNO) CEO Sells $150,716.16 in Stock

Key Points

• nCino CEO Sean Desmond sold 8,064 shares at an average price of $18.69, generating $150,716.16. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct holdings by 0.65% to 1.23 million shares.
• nCino shares recently traded at $19.09, with a $2.02 billion market capitalization and a 52-week range of $13.80 to $27.50. Institutional investors and hedge funds own approximately 94.76% of the stock.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $24.38, despite individual ratings ranging from Sell to Strong Buy.

nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 8,064 shares of nCino stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $18.69, for a total transaction of $150,716.16. Following the completion of the sale, the chief executive officer directly owned 1,231,080 shares in the company, valued at approximately $23,008,885.20. The trade was a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $230,746.95.

nCino Stock Performance

NASDAQ NCNO traded down $0.03 on Wednesday, hitting $19.09. 1,870,835 shares of the company's stock were exchanged, compared to its average volume of 2,856,503. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 63.63 and a beta of 0.81. The firm's 50-day moving average price is $20.49 and its two-hundred day moving average price is $17.87. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $27.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NCNO. American Capital Management Inc. purchased a new stake in shares of nCino during the second quarter worth about $83,508,000. Hawk Ridge Capital Management LP boosted its position in nCino by 625.4% during the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company's stock worth $67,138,000 after acquiring an additional 3,864,010 shares during the last quarter. Spyglass Capital Management LLC grew its stake in nCino by 6.0% in the 1st quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company's stock worth $46,217,000 after acquiring an additional 175,357 shares during the period. Bank of Nova Scotia acquired a new position in nCino in the 2nd quarter valued at $2,696,000. Finally, Algebris UK Ltd. purchased a new position in shares of nCino during the 2nd quarter worth $39,352,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Truist Financial raised their target price on nCino from $19.00 to $20.00 and gave the company a "hold" rating in a report on Wednesday, August 26th. Weiss Ratings reiterated a "sell (d+)" rating on shares of nCino in a report on Tuesday, August 25th. Barclays boosted their price objective on shares of nCino from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Wednesday, August 26th. Citizens Jmp upped their target price 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. Finally, Wall Street Zen raised shares of nCino from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, nCino presently has an average rating of "Moderate Buy" and a consensus target price of $24.38.

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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