April Rieger Sells 6,098 Shares of nCino (NASDAQ:NCNO) Stock

nCino Inc. (NASDAQ:NCNO) insider April Rieger sold 6,098 shares of nCino stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $21.98, for a total transaction of $134,034.04. Following the completion of the sale, the insider owned 369,651 shares of the company’s stock, valued at $8,124,928.98. This trade represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a 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.

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

• On Tuesday, August 4th, April Rieger sold 7,852 shares of nCino stock. The stock was sold at an average price of $19.22, for a total transaction of $150,915.44.

nCino Stock Performance

Shares of NASDAQ:NCNO traded down $0.29 on Thursday, hitting $21.41. 2,067,165 shares of the company were exchanged, compared to its average volume of 2,912,994. The firm has a market capitalization of $2.26 billion, a P/E ratio of 71.37 and a beta of 0.69. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $31.23. The stock’s 50 day moving average price is $19.91 and its 200 day moving average price is $17.52.

Wall Street Analyst Weigh In

NCNO has been the topic of several research analyst reports. Morgan Stanley boosted their price target on nCino from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, August 26th. Citizens Jmp lifted their target price on nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 26th. UBS Group reiterated a “buy” rating on shares of nCino in a report on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Finally, Truist Financial raised their target price on shares of nCino from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, August 26th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and a consensus price target of $24.38.

Institutional Investors Weigh In On nCino

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in nCino in the 2nd quarter valued at $147,492,000. Senvest Management LLC boosted its holdings in nCino by 30.2% in the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock worth $79,521,000 after buying an additional 1,230,192 shares during the last quarter. Bank of America Corp DE purchased a new stake in nCino during the 2nd quarter worth approximately $84,319,000. American Capital Management Inc. acquired a new position in shares of nCino during the second quarter valued at approximately $83,508,000. Finally, HMI Capital Management L.P. purchased a new position in shares of nCino in the second quarter valued at approximately $81,598,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

About nCino

nCino, Inc (NASDAQ: NCNO) provides cloud-based software designed to help banks, credit unions and other financial institutions manage and modernize their operations. Its platform, known as the nCino Bank Operating System, is built to streamline processes, improve collaboration and provide a unified view of customer and financial data.

The company’s products support commercial, small-business, consumer and mortgage lending, as well as account opening, deposit origination, onboarding, credit analysis, portfolio management and regulatory compliance.