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

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 43,992 shares of nCino 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 completion of the transaction, the chief executive officer owned 1,231,080 shares of the company’s stock, valued at $24,498,492. The trade was a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 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 stock was 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 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 Stock Performance

Shares of NASDAQ NCNO traded down $0.04 during mid-day trading on Wednesday, hitting $19.67. The company had a trading volume of 1,140,416 shares, compared to its average volume of 2,823,426. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 65.57 and a beta of 0.81. 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 stock’s 50-day moving average price is $20.56 and its 200-day moving average price is $18.03.

Analyst Ratings Changes

NCNO has been the topic of several analyst reports. KeyCorp reiterated a “sector weight” rating on shares of nCino in a research report on Monday. JPMorgan Chase & Co. increased their price target on shares of nCino from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, June 22nd. BTIG Research restated a “neutral” rating on shares of nCino in a research report on Wednesday, August 26th. Keefe, Bruyette & Woods boosted their price objective on shares of nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Finally, Citizens Jmp upped their target price on shares of nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.38.

Institutional Investors Weigh In On nCino

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

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.