nCino (NASDAQ:NCNO) CEO Sells 28,675 Shares of Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 28,675 shares of nCino stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $551,133.50. Following the completion of the sale, the chief executive officer owned 1,234,831 shares in the company, valued at approximately $23,733,451.82. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 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.
• 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 value of $131,120.64.

nCino Price Performance

Shares of NCNO traded down $0.24 during trading hours on Thursday, hitting $18.99. 1,654,296 shares of the stock were exchanged, compared to its average volume of 2,978,332. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 158.25 and a beta of 0.66. The stock’s 50-day moving average price is $16.64 and its two-hundred day moving average price is $17.11.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NCNO. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of nCino in a report on Wednesday, June 24th. JPMorgan Chase & Co. boosted their price target on shares of nCino from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, June 22nd. Citizens Jmp cut their price objective on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a report on Monday, May 18th. The Goldman Sachs Group decreased their target price on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Finally, Citigroup restated a “market outperform” rating on shares of nCino in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and an average price target of $25.29.

Hedge Funds Weigh In On nCino

Institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC grew its stake in shares of nCino by 255.8% in the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after buying an additional 821 shares during the period. Optiver Holding B.V. acquired a new position in nCino in the first quarter valued at approximately $32,000. Los Angeles Capital Management LLC acquired a new position in nCino in the fourth quarter valued at approximately $38,000. Versant Capital Management Inc grew its position in nCino by 664.9% in the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after acquiring an additional 2,101 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in nCino by 76.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after acquiring an additional 722 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.