nCino, Inc. (NASDAQ:NCNO) Director Sells $42,832,786.56 in Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 1,167,424 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $36.69, for a total transaction of $42,832,786.56. Following the transaction, the director now directly owns 9,790,001 shares of the company’s stock, valued at approximately $359,195,136.69. This represents a 10.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction 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 Stock Down 3.0 %

Shares of nCino stock opened at $35.46 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino, Inc. has a 1-year low of $28.09 and a 1-year high of $43.20. The business has a 50-day moving average of $38.36 and a 200-day moving average of $33.84. The company has a market capitalization of $4.11 billion, a PE ratio of -208.59, a P/E/G ratio of 16.82 and a beta of 0.59.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Morgan Stanley cut their price objective on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Scotiabank lifted their price target on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Barclays raised their target price on shares of nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, November 25th. Finally, Macquarie upped 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. Five 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $42.38.

Institutional Investors Weigh In On nCino

A number of hedge funds have recently bought and sold shares of NCNO. Thrivent Financial for Lutherans acquired a new position in shares of nCino in the 3rd quarter valued at approximately $689,000. Charles Schwab Investment Management Inc. increased its stake in shares of nCino by 51.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock worth $17,588,000 after buying an additional 189,283 shares during the last quarter. Verition Fund Management LLC acquired a new stake in nCino in the third quarter valued at $594,000. Select Equity Group L.P. boosted its stake in nCino by 182.0% during the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after acquiring an additional 16,416 shares during the last quarter. Finally, Vanderbilt University grew its holdings in nCino by 192.3% during the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock worth $4,441,000 after acquiring an additional 92,481 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.