nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing Sells 1,167,424 Shares

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 1,167,424 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $36.69, for a total value of $42,832,786.56. Following the completion of the sale, the director now directly owns 9,790,001 shares of the company’s stock, valued at approximately $359,195,136.69. This represents a 10.65 % 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 link.

Jeff Horing also recently made the following trade(s):

• On Monday, December 9th, Jeff Horing sold 450,000 shares of nCino stock. The stock was sold at an average price of $37.27, for a total value of $16,771,500.00.
• On Friday, October 18th, Jeff Horing sold 1,833,975 shares of nCino stock. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50.
• On Wednesday, October 16th, Jeff Horing sold 1,356,721 shares of nCino stock. The stock was sold at an average price of $36.02, for a total transaction of $48,869,090.42.

nCino Stock Performance

Shares of NASDAQ NCNO traded down $1.09 during midday trading on Friday, reaching $35.46. 837,111 shares of the company traded hands, compared to its average volume of 1,101,729. The stock has a 50-day moving average price of $38.27 and a 200 day moving average price of $33.79. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -217.59, a PEG ratio of 16.82 and a beta of 0.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino, Inc. has a 52 week low of $28.09 and a 52 week high of $43.20.

Wall Street Analysts Forecast Growth

NCNO has been the topic of a number of recent research reports. Piper Sandler restated a “neutral” rating and issued a $38.00 price target on shares of nCino in a research report on Thursday, December 5th. Scotiabank upped their target price on nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Stephens raised their price target on nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. William Blair restated an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods raised their target price on nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.38.

Institutional Trading of nCino

A number of institutional investors have recently made changes to their positions in NCNO. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of nCino by 8.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock valued at $244,766,000 after acquiring an additional 635,064 shares during the period. Long Path Partners LP boosted its stake in nCino by 43.7% during the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after purchasing an additional 1,131,271 shares in the last quarter. ShawSpring Partners LLC increased its position in shares of nCino by 115.9% during the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after purchasing an additional 1,424,349 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in shares of nCino by 65.1% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after buying an additional 828,124 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of nCino by 55.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock worth $65,261,000 after buying an additional 736,627 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

About nCino

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.