nCino (NASDAQ:NCNO) CFO Sells 12,015 Shares of Stock

Key Points

• nCino CFO Gregory Orenstein sold 12,015 shares for about $273,101 at an average price of $22.73. The sale covered tax withholding tied to vested equity awards; he retained 678,498 shares.
• nCino shares recently traded at $23.22, within a 12-month range of $13.80–$27.50. Analysts’ consensus rating was Moderate Buy, with a $23.42 average price target.
• Institutional investors and hedge funds own approximately 94.76% of nCino’s shares.

nCino Inc. (NASDAQ:NCNO - Get Free Report) CFO Gregory Orenstein sold 12,015 shares of the company's stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total transaction of $273,100.95. Following the transaction, the chief financial officer owned 678,498 shares of the company's stock, valued at $15,422,259.54. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

nCino Price Performance

Shares of NCNO traded down $0.22 during trading hours on Thursday, reaching $23.22. The stock had a trading volume of 1,548,348 shares, compared to its average volume of 2,755,685. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $27.50. The stock has a market capitalization of $2.46 billion, a PE ratio of 77.40 and a beta of 0.77. The company's 50-day moving average is $21.20 and its two-hundred day moving average is $18.32.

Institutional Trading of nCino

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new position in shares of nCino in the 1st quarter worth approximately $32,000. IFP Advisors Inc lifted its stake in shares of nCino by 7,370.4% in the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company's stock valued at $33,000 after purchasing an additional 1,990 shares during the period. Versant Capital Management Inc boosted its position in shares of nCino by 664.9% during the 2nd quarter. Versant Capital Management Inc now owns 2,417 shares of the company's stock valued at $40,000 after purchasing an additional 2,101 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of nCino by 5,250.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company's stock valued at $50,000 after purchasing an additional 3,255 shares in the last quarter. Finally, Essential Partners LLC boosted its position in shares of nCino by 9,400.0% during the 1st quarter. Essential Partners LLC now owns 3,800 shares of the company's stock valued at $57,000 after purchasing an additional 3,760 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Needham & Company LLC reissued a "buy" rating and set a $25.00 price target on shares of nCino in a research note on Wednesday, August 26th. Citigroup reiterated a "market outperform" rating on shares of nCino in a report on Wednesday, August 26th. UBS Group reiterated a "buy" rating on shares of nCino in a research report on Wednesday, August 26th. Keefe, Bruyette & Woods boosted their target price on shares of nCino from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, August 26th. Finally, Piper Sandler began coverage on shares of nCino in a research note on Monday, August 24th. They set an "overweight" rating and a $25.00 price target for the company. One research 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 given a Sell rating to the company. Based on data from MarketBeat.com, nCino currently has an average rating of "Moderate Buy" and a consensus price target 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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