nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing Sells 20,703 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 20,703 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.63, for a total transaction of $758,350.89. Following the transaction, the director now directly owns 9,058,298 shares in the company, valued at $331,805,455.74. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, December 16th, Jeff Horing sold 70,673 shares of nCino stock. The shares were sold at an average price of $36.11, for a total value of $2,552,002.03.
• On Wednesday, December 11th, Jeff Horing sold 1,167,424 shares of nCino stock. The stock was sold at an average price of $36.69, for a total value of $42,832,786.56.
• On Monday, December 9th, Jeff Horing sold 450,000 shares of nCino stock. The shares were 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 transaction 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 value of $48,869,090.42.

nCino Price Performance

NCNO stock opened at $35.40 on Wednesday. The company has a market capitalization of $4.10 billion, a P/E ratio of -208.24, a PEG ratio of 16.82 and a beta of 0.59. The business has a 50 day simple moving average of $38.56 and a 200-day simple moving average of $33.94. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a twelve month low of $28.09 and a twelve month high of $43.20.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on NCNO. Truist Financial reissued a “buy” rating and issued a $44.00 price target (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Scotiabank increased their price target on shares of nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Keefe, Bruyette & Woods upped their price target on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, UBS Group initiated coverage on nCino in a research note on Monday. They set a “buy” rating and a $44.00 target price on the stock. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.50.

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.