nCino (NASDAQ:NCNO) Insider Sells $182,021.84 in Stock

nCino Inc. (NASDAQ:NCNO) insider April Rieger sold 8,008 shares of nCino stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total transaction of $182,021.84. Following the completion of the transaction, the insider directly owned 361,643 shares of the company’s stock, valued at approximately $8,220,145.39. This represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $134,034.04.

nCino Stock Down 2.3%

Shares of NASDAQ:NCNO opened at $22.67 on Friday. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 75.57 and a beta of 0.77. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $27.50. The company’s fifty day moving average is $21.22 and its two-hundred day moving average is $18.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85.

nCino News Summary

Here are the key news stories impacting nCino this week:

• Positive Sentiment: nCino’s recently launched AI suite could offer a growth opportunity. Investor attention may turn to adoption and management’s outlook when the company reports earnings in December. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several nCino executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold shares. The reported transactions totaled about 66,700 shares, but were described as covering tax withholding on vested equity awards; the CEO’s sales were made under a pre-arranged trading plan. This may draw attention, though the stated reasons make it a limited indicator of their view on NCNO. Article: Insider Selling: nCino SVP Sells 905 Shares

Institutional Investors Weigh In On nCino

A number of hedge funds have recently added to or reduced their stakes in NCNO. BlackRock Inc. bought a new stake in nCino in the second quarter valued at $147,492,000. Bank of America Corp DE acquired a new position in shares of nCino during the second quarter valued at $84,319,000. American Capital Management Inc. bought a new position in shares of nCino during the second quarter worth about $83,508,000. HMI Capital Management L.P. bought a new position in shares of nCino during the second quarter worth about $81,598,000. Finally, Senvest Management LLC grew its position in shares of nCino by 30.2% during the first 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. 94.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of nCino in a research report on Wednesday, August 26th. Zacks Research cut shares of nCino from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Citizens Jmp lifted their target price on nCino from $23.00 to $25.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods lifted their target price on nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of nCino in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.42.

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.