Sean Desmond Sells 5,034 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 5,034 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40. Following the sale, the chief executive officer now owns 306,477 shares in the company, valued at $9,991,150.20. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

nCino Stock Down 0.9 %

nCino stock opened at $32.45 on Friday. The firm’s 50 day simple moving average is $34.84 and its 200-day simple moving average is $34.53. nCino, Inc. has a fifty-two week low of $28.09 and a fifty-two week high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. The Manufacturers Life Insurance Company grew its position in nCino by 18.8% during the second quarter. The Manufacturers Life Insurance Company now owns 20,467 shares of the company’s stock valued at $644,000 after purchasing an additional 3,233 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in nCino by 3.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock valued at $459,000 after purchasing an additional 508 shares in the last quarter. Truist Financial Corp grew its position in nCino by 16.2% during the second quarter. Truist Financial Corp now owns 41,053 shares of the company’s stock valued at $1,291,000 after purchasing an additional 5,712 shares in the last quarter. SG Americas Securities LLC purchased a new position in nCino during the third quarter valued at approximately $219,000. Finally, Handelsbanken Fonder AB grew its position in nCino by 92.3% during the third quarter. Handelsbanken Fonder AB now owns 22,500 shares of the company’s stock valued at $711,000 after purchasing an additional 10,800 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NCNO has been the topic of a number of recent analyst reports. Macquarie boosted their price target on shares of nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC boosted their price target on shares of nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Morgan Stanley dropped their price target on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $38.00 price objective on shares of nCino in a research note on Thursday, December 5th. Finally, UBS Group assumed coverage on shares of nCino in a research note on Monday, December 16th. They issued a “buy” rating and a $44.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.