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

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $17.47, for a total value of $140,878.08. Following the completion of the transaction, the chief executive officer directly owned 1,262,492 shares of the company’s stock, valued at $22,055,735.24. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Wednesday, June 3rd, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $16.26, for a total value of $131,120.64.
• On Tuesday, May 5th, Sean Desmond sold 16,589 shares of nCino stock. The shares were sold at an average price of $18.04, for a total value of $299,265.56.
• On Monday, May 4th, Sean Desmond sold 22,073 shares of nCino stock. The stock was sold at an average price of $18.02, for a total value of $397,755.46.

nCino Price Performance

NASDAQ NCNO traded down $0.72 during trading hours on Wednesday, hitting $17.34. The company had a trading volume of 3,399,109 shares, compared to its average volume of 3,117,453. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 144.50 and a beta of 0.68. nCino Inc. has a 52 week low of $13.80 and a 52 week high of $33.92. The firm has a 50 day simple moving average of $16.01 and a 200 day simple moving average of $18.23.

Analysts Set New Price Targets

NCNO has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Citizens Jmp reduced their price target on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a research report on Monday, May 18th. Barclays upped their price target on shares of nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. Weiss Ratings upgraded nCino from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Finally, Morgan Stanley dropped their price objective on nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, nCino currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Algebris UK Ltd. increased its position in shares of nCino by 266.2% during the 4th quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company’s stock valued at $26,493,000 after purchasing an additional 750,744 shares during the last quarter. Shannon River Fund Management LLC boosted its stake in nCino by 27.4% in the third quarter. Shannon River Fund Management LLC now owns 1,578,896 shares of the company’s stock worth $42,804,000 after buying an additional 339,863 shares in the last quarter. Tremblant Capital Group grew its position in nCino by 40.3% during the third quarter. Tremblant Capital Group now owns 661,277 shares of the company’s stock valued at $17,927,000 after acquiring an additional 189,815 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of nCino during the fourth quarter worth approximately $3,982,000. Finally, Kinetic Partners Management LP raised its stake in shares of nCino by 89.4% during the third quarter. Kinetic Partners Management LP now owns 699,000 shares of the company’s stock worth $18,950,000 after acquiring an additional 330,000 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.