nCino (NASDAQ:NCNO) CEO Sells $190,794.24 in Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $23.66, for a total value of $190,794.24. Following the transaction, the chief executive officer directly owned 1,231,080 shares in the company, valued at $29,127,352.80. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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 value of $551,133.50.
• On Wednesday, August 5th, Sean Desmond sold 11,815 shares of nCino stock. The shares were sold at an average price of $19.53, for a total transaction of $230,746.95.
• On Monday, July 6th, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $17.47, for a total transaction of $140,878.08.

nCino Stock Performance

NCNO opened at $21.43 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The company’s fifty day moving average price is $19.60 and its two-hundred day moving average price is $17.35. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $31.23. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 71.43 and a beta of 0.69.

Analyst Ratings Changes

NCNO has been the topic of several recent research reports. Truist Financial raised their price target on shares of nCino from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. boosted their price objective on nCino from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, June 22nd. Citizens Jmp increased their price objective on nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 26th. UBS Group restated a “buy” rating on shares of nCino in a report on Wednesday, August 26th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of nCino in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and an average price target of $24.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its stake in nCino by 255.8% in the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after buying an additional 821 shares during the last quarter. Optiver Holding B.V. bought a new position in shares of nCino during the 1st quarter worth approximately $32,000. IFP Advisors Inc boosted 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 worth $33,000 after buying an additional 1,990 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of nCino in the 4th quarter worth approximately $38,000. Finally, Versant Capital Management Inc grew its holdings in shares of 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 acquiring an additional 2,101 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

About nCino

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.