nCino (NASDAQ:NCNO) Shares Gap Down After Insider Selling

nCino, Inc. (NASDAQ:NCNOGet Free Report) shares gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $37.38, but opened at $36.00. nCino shares last traded at $35.92, with a volume of 223,959 shares changing hands.

Specifically, insider April Rieger sold 1,518 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $31.22, for a total value of $47,391.96. Following the sale, the insider now directly owns 150,538 shares in the company, valued at approximately $4,699,796.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Pamela Kilday sold 1,000 shares of nCino stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $36.48, for a total transaction of $36,480.00. Following the completion of the transaction, the director now directly owns 20,930 shares of the company’s stock, valued at approximately $763,526.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider April Rieger sold 1,518 shares of nCino stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $31.22, for a total transaction of $47,391.96. Following the transaction, the insider now directly owns 150,538 shares of the company’s stock, valued at $4,699,796.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,448 shares of company stock worth $2,099,270. Insiders own 38.20% of the company’s stock.

Wall Street Analysts Forecast Growth

NCNO has been the subject of several research reports. Robert W. Baird boosted their price objective on shares of nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Needham & Company LLC boosted their price objective on shares of nCino from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Morgan Stanley boosted their price objective on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. William Blair reissued an “outperform” rating on shares of nCino in a research report on Wednesday, March 27th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 price target on shares of nCino in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.40.

Get Our Latest Analysis on NCNO

nCino Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s 50 day moving average is $30.99 and its 200 day moving average is $30.84.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NCNO. Kayne Anderson Rudnick Investment Management LLC increased its stake in nCino by 32.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,324,045 shares of the company’s stock valued at $181,490,000 after purchasing an additional 1,808,829 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of nCino by 19.5% in the third quarter. Vanguard Group Inc. now owns 6,996,554 shares of the company’s stock worth $238,653,000 after acquiring an additional 1,143,370 shares during the period. Norges Bank acquired a new stake in shares of nCino in the fourth quarter worth $25,336,000. BlackRock Inc. increased its stake in shares of nCino by 29.4% in the third quarter. BlackRock Inc. now owns 3,095,956 shares of the company’s stock worth $105,602,000 after acquiring an additional 704,230 shares during the period. Finally, Clearbridge Investments LLC acquired a new stake in shares of nCino in the third quarter worth $17,398,000. Institutional investors own 94.76% of the company’s stock.

nCino Company Profile

(Get Free Report)

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, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.

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