nCino (NASDAQ:NCNO) Stock: Insider Sean Desmond Sells 43,992 Shares

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 43,992 shares of the stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $19.90, for a total transaction of $875,440.80. Following the sale, the chief executive officer owned 1,231,080 shares in the company, valued at $24,498,492. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Monday, October 5th, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $18.69, for a total transaction of $150,716.16.
• On Thursday, September 3rd, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $23.66, for a total transaction of $190,794.24.
• On Tuesday, August 4th, Sean Desmond sold 28,675 shares of nCino stock. The shares were sold at an average price of $19.22, for a total transaction 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.

nCino Stock Performance

Shares of nCino stock opened at $21.12 on Friday. The company has a 50 day moving average of $20.61 and a 200-day moving average of $18.11. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $27.50. 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 has a market cap of $2.23 billion, a PE ratio of 70.40 and a beta of 0.81.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NCNO. State of Alaska Department of Revenue acquired a new position in nCino during the 3rd quarter worth approximately $97,000. Steel Grove Capital Advisors LLC bought a new position in nCino in the 3rd quarter valued at approximately $204,000. Integrated Wealth Concepts LLC acquired a new stake in nCino in the second quarter valued at approximately $344,000. IFP Advisors Inc boosted its position in nCino by 7,370.4% in the second quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock valued at $33,000 after buying an additional 1,990 shares in the last quarter. Finally, Allworth Financial LP boosted its position in nCino by 282.4% in the second quarter. Allworth Financial LP now owns 13,268 shares of the company’s stock valued at $217,000 after buying an additional 9,798 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NCNO shares. Needham & Company LLC restated a “buy” rating and set a $25.00 price objective on shares of nCino in a research report on Wednesday, August 26th. Keefe, Bruyette & Woods raised their target price on nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Truist Financial raised their target price on nCino from $19.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, August 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of nCino in a research note on Tuesday, August 25th. Finally, BTIG Research reiterated a “neutral” rating on shares of nCino in a research note on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.38.

nCino Company Profile

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize and manage core banking processes through a unified, configurable operating environment.

The company’s products support commercial, small-business and consumer lending; account opening and deposit origination; customer onboarding; loan and relationship management; workflow automation; and portfolio and analytics capabilities.