Gregory Orenstein Sells 11,780 Shares of nCino (NASDAQ:NCNO) Stock

nCino Inc. (NASDAQ:NCNO) CFO Gregory Orenstein sold 11,780 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $226,411.60. Following the sale, the chief financial officer directly owned 690,513 shares of the company’s stock, valued at $13,271,659.86. This represents a 1.68% decrease in their position. The transaction was disclosed in a document filed 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 Trading Down 1.2%

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

Institutional Investors Weigh In On nCino

Several hedge funds and other institutional investors have recently bought and sold shares of NCNO. Algebris UK Ltd. boosted its position 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 worth $26,493,000 after purchasing an additional 750,744 shares in the last quarter. Hawk Ridge Capital Management LP increased its position in nCino by 625.4% in the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after buying an additional 3,864,010 shares in the last quarter. Hsbc Holdings PLC acquired a new position in nCino during the 4th quarter worth approximately $3,982,000. American Capital Management Inc. boosted its holdings in nCino by 17.1% in the first quarter. American Capital Management Inc. now owns 2,375,396 shares of the company’s stock worth $35,583,000 after acquiring an additional 347,587 shares in the last quarter. Finally, Royce & Associates LP bought a new position in nCino in the fourth quarter worth approximately $3,681,000. 94.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings raised shares of nCino from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of nCino in a research report on Wednesday, June 24th. The Goldman Sachs Group dropped their price objective on nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of nCino in a research report on Thursday, May 28th. Finally, Citizens Jmp decreased their target price on nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.