nCino (NASDAQ:NCNO) Stock: Insider Pierre Naude Sells 4,770 Shares

nCino Inc. (NASDAQ:NCNO) Director Pierre Naude sold 4,770 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total transaction of $108,422.10. Following the sale, the director owned 1,111,937 shares of the company’s stock, valued at $25,274,328.01. This trade represents a 0.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

nCino Stock Down 2.3%

NCNO opened at $22.67 on Friday. The company has a market capitalization of $2.40 billion, a P/E ratio of 75.57 and a beta of 0.77. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $27.50. 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 stock has a fifty day moving average of $21.22 and a 200-day moving average of $18.32.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NCNO. Stephens assumed coverage on shares of nCino in a research note on Friday, October 16th. They issued an “overweight” rating and a $26.00 price target on the stock. Zacks Research lowered shares of nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Piper Sandler assumed coverage on nCino in a report on Monday, August 24th. They set an “overweight” rating and a $25.00 price objective on the stock. KeyCorp reissued a “sector weight” rating on shares of nCino in a research note on Monday, October 12th. Finally, BTIG Research restated a “neutral” rating on shares of nCino in a research report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.42.

Institutional Investors Weigh In On nCino

A number of hedge funds and other institutional investors have recently modified their holdings of NCNO. Fulcrum Asset Management LLP purchased a new position in nCino during the third quarter worth about $467,000. CenterBook Partners LP acquired a new position in nCino during the third quarter worth $1,001,000. Commonwealth Equity Services LLC acquired a new stake in shares of nCino during the third quarter worth $206,000. Cowa LLC grew its stake in nCino by 20.6% in the third quarter. Cowa LLC now owns 21,650 shares of the company’s stock valued at $393,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Integrity Alliance LLC. acquired a new stake in shares of nCino during the 3rd quarter worth $562,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

nCino News Summary

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

About nCino

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.