Insider Selling: nCino (NASDAQ:NCNO) Director Sells $89,891.94 in Stock

Key Points

• nCino Director Pierre Naude sold 4,677 shares for approximately $89,892 at an average price of $19.22, reducing his ownership by 0.42% to 1,116,707 shares. The sale covered tax-withholding obligations tied to vested equity awards.
• Company insiders collectively sold about 67,222 shares worth $1.30 million on August 4–5, including sales by the CEO and CFO. Most transactions were made under pre-arranged Rule 10b5-1 plans, though the breadth of the selling could pressure investor sentiment.
• NCNO recently traded near $18.99, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $25.29; institutional investors own 94.76% of the stock.

nCino Inc. (NASDAQ:NCNO - Get Free Report) Director Pierre Naude sold 4,677 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $89,891.94. Following the sale, the director owned 1,116,707 shares in the company, valued at approximately $21,463,108.54. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

nCino Price Performance

NCNO traded down $0.24 during trading on Thursday, hitting $18.99. The company's stock had a trading volume of 1,654,296 shares, compared to its average volume of 2,978,332. The firm's 50 day moving average price is $16.64 and its two-hundred day moving average price is $17.11. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $33.92. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 158.25 and a beta of 0.66.

Institutional Investors Weigh In On nCino

A number of institutional investors and hedge funds have recently modified their holdings of NCNO. Bank of New York Mellon Corp bought a new position in nCino in the second quarter valued at approximately $9,133,000. State of Wyoming acquired a new stake in nCino during the 2nd quarter worth $575,000. Handelsbanken Fonder AB raised its position in shares of nCino by 16.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 26,400 shares of the company's stock valued at $432,000 after acquiring an additional 3,700 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of nCino by 664.9% in 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 during the period. Finally, Optiver Holding B.V. acquired a new position in shares of nCino in the 1st quarter valued at $32,000. 94.76% of the stock is owned by institutional investors.

More nCino News

Here are the key news stories impacting nCino this week:

• Neutral Sentiment: Company insiders collectively sold approximately 67,222 shares worth about $1.30 million across August 4–5. The transactions included CEO Sean Desmond, CFO Gregory Orenstein, Director Pierre Naude, SVP Jeanette Sellers, and insider April Rieger. SEC insider trading filing
• Neutral Sentiment: Most of the sales were executed under pre-arranged Rule 10b5-1 trading plans and were specifically made to cover tax-withholding obligations tied to vested equity awards. That makes the transactions less indicative of management abandoning its long-term outlook for nCino.
• Negative Sentiment: The breadth of the selling—particularly by the CEO and CFO—may nevertheless weigh on investor sentiment and create near-term supply pressure. CEO Sean Desmond sold roughly 40,490 shares, while CFO Gregory Orenstein sold 11,780 shares; both retained substantial ownership stakes after the transactions. SEC CFO filing

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NCNO shares. Keefe, Bruyette & Woods restated an "outperform" rating on shares of nCino in a research note on Wednesday, June 24th. JPMorgan Chase & Co. increased their price objective on shares of nCino from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, June 22nd. Weiss Ratings raised shares of nCino from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. Citizens Jmp lowered their price objective on shares of nCino from $32.00 to $23.00 and set a "market outperform" rating for the company in a research report on Monday, May 18th. Finally, The Goldman Sachs Group dropped their target price on shares of nCino from $24.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.29.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.

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