nCino (NASDAQ:NCNO) CEO Sells $268,177.17 in Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 11,757 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $22.81, for a total value of $268,177.17. Following the completion of the transaction, the chief executive officer directly owned 1,257,460 shares of the company’s stock, valued at approximately $28,682,662.60. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a 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, November 3rd, Sean Desmond sold 29,247 shares of nCino stock. The stock was sold at an average price of $22.73, for a total value of $664,784.31.
• On Friday, October 9th, Sean Desmond sold 43,992 shares of nCino stock. The shares were sold at an average price of $19.90, for a total value of $875,440.80.
• 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 value 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 value of $190,794.24.

nCino Stock Performance

Shares of nCino stock opened at $22.67 on Friday. The company has a market capitalization of $2.40 billion, a PE ratio of 75.57 and a beta of 0.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day simple moving average of $21.22 and a two-hundred day simple moving average of $18.32. nCino Inc. has a one year low of $13.80 and a one year high of $27.50.

Institutional Trading of nCino

Several large investors have recently bought and sold shares of NCNO. BlackRock Inc. acquired a new position in nCino during the 2nd quarter valued at approximately $147,492,000. Bank of America Corp DE purchased a new position in shares of nCino in the second quarter worth $84,319,000. American Capital Management Inc. purchased a new position in shares of nCino in the second quarter worth $83,508,000. HMI Capital Management L.P. acquired a new stake in shares of nCino during the second quarter worth $81,598,000. Finally, Senvest Management LLC lifted its stake in shares of nCino by 30.2% during the first 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 period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino News Roundup

Here are the key news stories impacting nCino this week:

• Positive Sentiment: nCino’s recently launched AI suite could offer a growth opportunity. Investor attention may turn to adoption and management’s outlook when the company reports earnings in December. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several nCino executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold shares. The reported transactions totaled about 66,700 shares, but were described as covering tax withholding on vested equity awards; the CEO’s sales were made under a pre-arranged trading plan. This may draw attention, though the stated reasons make it a limited indicator of their view on NCNO. Article: Insider Selling: nCino SVP Sells 905 Shares

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NCNO shares. BTIG Research reiterated a “neutral” rating on shares of nCino in a research note on Wednesday, August 26th. Citigroup restated a “market outperform” rating on shares of nCino in a research note on Wednesday, August 26th. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Finally, Zacks Research downgraded nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.42.

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 banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.

The company’s products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.