nCino (NASDAQ:NCNO) Insider April Rieger Sells 8,008 Shares of Company Stock

Key Points

• nCino insider April Rieger sold 8,008 shares for about $182,000 at an average price of $22.73. The sale covered tax withholding on vested equity awards, and she retained 361,643 shares.
• nCino shares traded at $23.22, giving the company a market capitalization of about $2.46 billion; the stock’s 12-month range was $13.80 to $27.50.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $23.42. Institutional investors owned 94.76% of the stock.

nCino Inc. (NASDAQ:NCNO - Get Free Report) insider April Rieger sold 8,008 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total value of $182,021.84. Following the sale, the insider directly owned 361,643 shares of the company's stock, valued at approximately $8,220,145.39. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

April Rieger also recently made the following trade(s):

• On Tuesday, September 15th, April Rieger sold 6,098 shares of nCino stock. The shares were sold at an average price of $21.98, for a total transaction of $134,034.04.

nCino Stock Performance

NCNO traded down $0.22 during trading on Thursday, hitting $23.22. The stock had a trading volume of 1,548,348 shares, compared to its average volume of 2,755,685. The firm has a market capitalization of $2.46 billion, a P/E ratio of 77.40 and a beta of 0.77. 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 twelve month low of $13.80 and a twelve month high of $27.50. The company's 50-day moving average price is $21.20 and its 200 day moving average price is $18.32.

Hedge Funds Weigh In On nCino

Large investors have recently made changes to their positions in the stock. IFP Advisors Inc lifted its stake in shares of nCino by 7,370.4% in the second 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. Optiver Holding B.V. acquired a new position in nCino during the first quarter worth about $32,000. Versant Capital Management Inc increased its holdings in nCino by 664.9% in the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company's stock valued at $40,000 after buying an additional 2,101 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in nCino by 5,250.0% in the first quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company's stock valued at $50,000 after buying an additional 3,255 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in nCino by 605.7% in the third quarter. Sterling Capital Management LLC now owns 3,458 shares of the company's stock valued at $63,000 after buying an additional 2,968 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of nCino from a "hold" rating to a "buy" rating in a research note on Saturday, August 22nd. KeyCorp restated a "sector weight" rating on shares of nCino in a research report on Monday, October 12th. UBS Group reaffirmed a "buy" rating on shares of nCino in a report on Wednesday, August 26th. Barclays boosted their target price on nCino from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 26th. Finally, Keefe, Bruyette & Woods increased their target price on nCino from $24.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, nCino presently has a consensus rating of "Moderate Buy" and an average price target of $23.42.

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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