nCino (NASDAQ:NCNO) Stock: Insider Sean Desmond Sells 8,064 Shares

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of nCino stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $18.69, for a total transaction of $150,716.16. Following the completion of the sale, the chief executive officer owned 1,231,080 shares of the company’s stock, valued at $23,008,885.20. This trade represents a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sean Desmond also recently made the following trade(s):

• 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.
• 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 stock was sold at an average price of $19.53, for a total value of $230,746.95.

nCino Price Performance

Shares of NASDAQ NCNO opened at $19.68 on Friday. The stock has a market capitalization of $2.08 billion, a PE ratio of 65.60 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $20.52 and a two-hundred day moving average price of $17.92. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $27.50.

Hedge Funds Weigh In On nCino

Several institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. Janney Montgomery Scott LLC lifted its stake in shares of nCino by 9.1% in the first quarter. Janney Montgomery Scott LLC now owns 12,467 shares of the company’s stock worth $187,000 after acquiring an additional 1,039 shares during the period. Kornitzer Capital Management Inc. KS increased its position in nCino by 4.4% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 25,915 shares of the company’s stock valued at $388,000 after purchasing an additional 1,087 shares during the period. The Manufacturers Life Insurance Company increased its position in nCino by 8.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 23,973 shares of the company’s stock valued at $359,000 after purchasing an additional 1,870 shares during the period. IFP Advisors Inc raised its holdings in nCino by 7,370.4% during the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,990 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in shares of nCino by 7.2% during the first quarter. Bleakley Financial Group LLC now owns 30,525 shares of the company’s stock worth $457,000 after buying an additional 2,054 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on NCNO. JPMorgan Chase & Co. boosted their price target on nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday, June 22nd. BTIG Research reissued a “neutral” rating on shares of nCino in a report on Wednesday, August 26th. Keefe, Bruyette & Woods boosted their target price on shares of nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, August 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of nCino in a report on Wednesday, August 26th. Finally, UBS Group reissued a “buy” rating on shares of nCino in a research note 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.38.

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 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.