nCino (NASDAQ:NCNO) Insider April Rieger Sells 8,008 Shares of Stock

nCino Inc. (NASDAQ:NCNO) insider April Rieger sold 8,008 shares of nCino stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $22.73, for a total transaction of $182,021.84. Following the transaction, the insider owned 361,643 shares of the company’s stock, valued at $8,220,145.39. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

April Rieger also recently made the following trade(s):

• On Tuesday, September 15th, April Rieger sold 6,098 shares of nCino stock. The stock was sold at an average price of $21.98, for a total value of $134,034.04.

nCino Stock Performance

nCino stock opened at $23.21 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.45 billion, a P/E ratio of 77.37 and a beta of 0.77. The stock’s 50 day moving average is $21.23 and its 200 day moving average is $18.32. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $27.50.

Analysts Set New Price Targets

Several equities research analysts have commented on NCNO shares. Piper Sandler initiated coverage on nCino in a report on Monday, August 24th. They issued an “overweight” rating and a $25.00 target price on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Wall Street Zen upgraded nCino from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. BTIG Research reaffirmed a “neutral” rating on shares of nCino in a research report on Wednesday, August 26th. Finally, Truist Financial upped their price target on shares of nCino from $19.00 to $20.00 and gave the stock a “hold” rating in a research note 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and a consensus target price of $23.42.

Institutional Investors Weigh In On nCino

A number of institutional investors have recently made changes to their positions in NCNO. BlackRock Inc. bought a new stake in shares of nCino during the second quarter valued at approximately $147,492,000. Senvest Management LLC raised its holdings in nCino by 30.2% in the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock worth $79,521,000 after acquiring an additional 1,230,192 shares during the last quarter. Bank of America Corp DE purchased a new position in nCino in the 2nd quarter worth approximately $84,319,000. American Capital Management Inc. bought a new position in nCino in the 2nd quarter valued at approximately $83,508,000. Finally, HMI Capital Management L.P. bought a new position in nCino in the 2nd quarter valued at approximately $81,598,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino News Summary

Here are the key news stories impacting nCino this week:

• Positive Sentiment: Coverage highlights nCino’s AI suite launch as the company approaches its December earnings report. The product could provide a growth opportunity, while results and management’s outlook will be important catalysts. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold a combined 66,702 shares. Most sales were to cover tax withholding from equity awards; the CEO’s sales were under a pre-arranged trading plan. The transactions may attract attention, but their stated purpose makes them a limited signal of management’s view of NCNO shares. 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.