nCino, Inc. (NASDAQ:NCNO) Director Sells $16,771,500.00 in Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 450,000 shares of nCino stock in a transaction on Monday, December 9th. The shares were sold at an average price of $37.27, for a total transaction of $16,771,500.00. Following the completion of the sale, the director now owns 12,063,467 shares in the company, valued at $449,605,415.09. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 transaction of $67,160,164.50.
• On Wednesday, October 16th, Jeff Horing sold 1,356,721 shares of nCino stock. The shares were sold at an average price of $36.02, for a total transaction of $48,869,090.42.

nCino Trading Up 1.1 %

NASDAQ NCNO traded up $0.41 on Wednesday, hitting $36.41. The company’s stock had a trading volume of 2,261,308 shares, compared to its average volume of 1,100,264. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 1-year low of $28.09 and a 1-year high of $43.20. The company’s 50-day moving average is $38.05 and its 200 day moving average is $33.75. The firm has a market cap of $4.22 billion, a PE ratio of -211.76, a PEG ratio of 28.36 and a beta of 0.59.

Institutional Investors Weigh In On nCino

Institutional investors have recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in shares of nCino in the 2nd quarter valued at $26,000. Asset Management One Co. Ltd. boosted its stake in nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in nCino by 97.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after acquiring an additional 1,358 shares in the last quarter. West Tower Group LLC bought a new position in nCino during the third quarter worth $126,000. Finally, Northwest & Ethical Investments L.P. bought a new position in nCino during the third quarter worth $152,000. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NCNO has been the subject of several research analyst reports. Barclays lifted their target price on shares of nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, November 25th. Needham & Company LLC boosted their price objective on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Piper Sandler restated a “neutral” rating and issued a $38.00 target price on shares of nCino in a research report on Thursday, December 5th. Stephens boosted their target price on shares of nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Morgan Stanley lowered their price objective on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.38.

nCino Company Profile

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.