Sean Desmond Sells 11,815 Shares of nCino (NASDAQ:NCNO) Stock

Key Points

• nCino CEO Sean Desmond sold 11,815 shares at an average price of $19.53, generating $230,746.95. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards; he retains 1,231,080 shares.
• nCino shares fell 1.2% to $18.99, giving the company a market capitalization of about $2.08 billion. The stock remains below its 12-month high of $33.92 but above its 50-day and 200-day moving averages.
• Institutional investors own 94.76% of nCino, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $25.29.

nCino Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 11,815 shares of nCino stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total value of $230,746.95. Following the sale, the chief executive officer owned 1,231,080 shares of the company's stock, valued at approximately $24,042,992.40. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, August 4th, Sean Desmond sold 28,675 shares of nCino stock. The stock was sold at an average price of $19.22, for a total transaction of $551,133.50.
• On Monday, July 6th, Sean Desmond sold 8,064 shares of nCino stock. The stock was sold at an average price of $17.47, for a total transaction of $140,878.08.
• On Wednesday, June 3rd, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $16.26, for a total transaction of $131,120.64.

nCino Trading Down 1.2%

NCNO stock traded down $0.24 during mid-day trading on Thursday, reaching $18.99. The company had a trading volume of 1,654,296 shares, compared to its average volume of 2,978,332. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $2.08 billion, a PE ratio of 158.25 and a beta of 0.66. The firm has a 50 day moving average of $16.64 and a 200 day moving average of $17.11. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $33.92.

Institutional Trading of nCino

Hedge funds have recently bought and sold shares of the stock. Algebris UK Ltd. lifted its holdings in shares of nCino by 266.2% during the 4th quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company's stock valued at $26,493,000 after purchasing an additional 750,744 shares during the last quarter. Hawk Ridge Capital Management LP grew its stake in nCino by 625.4% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company's stock worth $67,138,000 after buying an additional 3,864,010 shares during the last quarter. Hsbc Holdings PLC purchased a new position in nCino during the 4th quarter worth $3,982,000. American Capital Management Inc. increased its position in nCino by 17.1% during the 1st quarter. American Capital Management Inc. now owns 2,375,396 shares of the company's stock valued at $35,583,000 after buying an additional 347,587 shares in the last quarter. Finally, Royce & Associates LP acquired a new position in nCino during the 4th quarter valued at about $3,681,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on NCNO shares. Weiss Ratings upgraded nCino from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. The Goldman Sachs Group lowered their target price on nCino from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, May 14th. Citizens Jmp dropped their price target on nCino from $32.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Monday, May 18th. Zacks Research lowered nCino from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of nCino from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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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