Sean Desmond Sells 11,815 Shares of nCino (NASDAQ:NCNO) Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 11,815 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total transaction of $230,746.95. Following the completion of the transaction, the chief executive officer directly owned 1,231,080 shares of the company’s stock, valued at $24,042,992.40. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 transaction of $551,133.50.
• On Monday, July 6th, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $17.47, for a total transaction of $140,878.08.
• On Wednesday, June 3rd, Sean Desmond sold 8,064 shares of nCino stock. The stock was sold at an average price of $16.26, for a total transaction of $131,120.64.

nCino Stock Performance

Shares of NASDAQ:NCNO traded down $0.24 on Thursday, hitting $18.99. 1,654,296 shares of the company were exchanged, compared to its average volume of 2,978,332. The firm has a market capitalization of $2.08 billion, a P/E ratio of 158.25 and a beta of 0.66. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $16.64 and its 200 day moving average price is $17.11. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92.

Analyst Ratings Changes

Several research analysts have recently issued reports on NCNO shares. Weiss Ratings upgraded nCino from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of nCino in a research report on Thursday, May 28th. Citigroup reiterated a “market outperform” rating on shares of nCino in a report on Monday, June 22nd. Zacks Research lowered shares of nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, The Goldman Sachs Group dropped their price objective on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.29.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Hawk Ridge Capital Management LP grew its position in nCino by 625.4% during the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after buying an additional 3,864,010 shares during the period. Bank of America Corp DE boosted its stake in shares of nCino by 475.1% during the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock worth $68,146,000 after acquiring an additional 2,076,579 shares in the last quarter. Millennium Management LLC grew its position in shares of nCino by 262.8% during the 4th quarter. Millennium Management LLC now owns 2,341,532 shares of the company’s stock valued at $60,037,000 after acquiring an additional 1,696,051 shares during the period. Senvest Management LLC increased its stake in shares of nCino by 68.6% in the 4th quarter. Senvest Management LLC now owns 4,078,276 shares of the company’s stock valued at $104,567,000 after purchasing an additional 1,658,868 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in nCino in the 3rd quarter worth about $36,962,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

About nCino

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.