nCino (NASDAQ:NCNO) SVP Sells $20,570.65 in Stock

nCino Inc. (NASDAQ:NCNO) SVP Jeanette Sellers sold 905 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total value of $20,570.65. Following the sale, the senior vice president owned 46,858 shares in the company, valued at approximately $1,065,082.34. This represents a 1.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jeanette Sellers also recently made the following trade(s):

• On Thursday, August 27th, Jeanette Sellers sold 690 shares of nCino stock. The shares were sold at an average price of $22.70, for a total transaction of $15,663.00.

nCino Price Performance

Shares of NCNO traded down $0.22 during mid-day trading on Thursday, reaching $23.22. 1,548,348 shares of the stock traded hands, compared to its average volume of 2,755,685. The firm has a fifty day moving average price of $21.20 and a 200 day moving average price of $18.32. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 77.40 and a beta of 0.77. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $27.50.

Institutional Investors Weigh In On nCino

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in nCino during the second quarter valued at $147,492,000. Bank of America Corp DE purchased a new stake in shares of nCino in the 2nd quarter worth about $84,319,000. American Capital Management Inc. purchased a new stake in shares of nCino in the 2nd quarter worth about $83,508,000. HMI Capital Management L.P. bought a new position in shares of nCino in the 2nd quarter worth about $81,598,000. Finally, Hawk Ridge Capital Management LP increased its stake in shares of nCino by 625.4% in the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock worth $67,138,000 after acquiring an additional 3,864,010 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays lifted their price target on shares of nCino from $22.00 to $23.00 and gave the stock an “overweight” rating 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 report on Saturday, August 22nd. Zacks Research cut shares of nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Piper Sandler initiated coverage on shares of nCino in a report on Monday, August 24th. They set an “overweight” rating and a $25.00 target price on the stock. Finally, Truist Financial increased their target price on shares of nCino from $19.00 to $20.00 and gave the company a “hold” rating in a 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.42.

Key Headlines Impacting nCino

Here are the key news stories impacting nCino this week:

• Positive Sentiment: nCino has launched an AI suite ahead of its December earnings report, adding a new product development for investors to watch. The upcoming results may provide more detail on adoption and business impact. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several executives and directors, including CEO Sean Desmond, reported share sales. The CEO’s transactions were made under a pre-arranged Rule 10b5-1 plan, and the reported sales were to cover tax withholding on vested equity awards. That context makes the disclosures less concerning than discretionary sales, though they could still create a modest sentiment overhang. SEC filing

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.