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

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $23.66, for a total transaction of $190,794.24. Following the completion of the transaction, the chief executive officer owned 1,231,080 shares of the company’s stock, valued at $29,127,352.80. This represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 shares were sold at an average price of $19.53, for a total value of $230,746.95.
• 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 value of $140,878.08.

nCino Trading Down 4.2%

NASDAQ:NCNO opened at $22.14 on Wednesday. The company has a market capitalization of $2.34 billion, a PE ratio of 73.80 and a beta of 0.69. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $31.92. The stock’s 50 day moving average price is $19.43 and its 200 day moving average price is $17.26. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34.

Institutional Investors Weigh In On nCino

Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors increased its stake in nCino by 1.2% in the 3rd quarter. Captrust Financial Advisors now owns 62,747 shares of the company’s stock valued at $1,701,000 after buying an additional 743 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of nCino by 14.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,958 shares of the company’s stock worth $153,000 after acquiring an additional 765 shares during the period. CWM LLC boosted its holdings in shares of nCino by 255.8% in the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares in the last quarter. Quarry LP boosted its holdings in shares of nCino by 138.2% in the third quarter. Quarry LP now owns 1,701 shares of the company’s stock valued at $46,000 after acquiring an additional 987 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of 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 acquiring an additional 1,039 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citizens Jmp lifted their target price on shares of nCino from $23.00 to $25.00 and gave the company a “market outperform” rating in a report on Wednesday, August 26th. Citigroup reissued a “market outperform” rating on shares of nCino in a research report on Wednesday, August 26th. Piper Sandler began coverage on shares of nCino in a research note on Monday, August 24th. They issued an “overweight” rating and a $25.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Finally, Zacks Research downgraded shares of nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.38.

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.