Insider Selling: nCino, Inc. (NASDAQ:NCNO) Director Sells 70,673 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 70,673 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $36.11, for a total value of $2,552,002.03. Following the completion of the sale, the director now owns 8,987,625 shares in the company, valued at $324,543,138.75. This represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, December 13th, Jeff Horing sold 20,703 shares of nCino stock. The stock was sold at an average price of $36.63, for a total value of $758,350.89.
• On Wednesday, December 11th, Jeff Horing sold 1,167,424 shares of nCino stock. The shares were 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 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 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 transaction of $48,869,090.42.

nCino Price Performance

NCNO opened at $35.40 on Wednesday. nCino, Inc. has a twelve month low of $28.09 and a twelve month high of $43.20. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of -208.24, a PEG ratio of 16.82 and a beta of 0.59. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $38.56 and a 200 day simple moving average of $33.94.

Wall Street Analyst Weigh In

Several brokerages recently commented on NCNO. Truist Financial reaffirmed a “buy” rating and set a $44.00 price target (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Robert W. Baird dropped their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. JMP Securities reiterated a “market outperform” rating and issued a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Morgan Stanley dropped their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, December 6th. Finally, Keefe, Bruyette & Woods raised their price objective on nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, nCino currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Hedge Funds Weigh In On nCino

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its position 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 worth $244,766,000 after acquiring an additional 635,064 shares during the last quarter. Long Path Partners LP grew 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 grew its stake in 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 in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in nCino by 65.1% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after purchasing an additional 828,124 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position 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 valued at $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.

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.