Insider Selling: nCino, Inc. (NASDAQ:NCNO) Director Sells $1,920,660.00 in Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 54,876 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.00, for a total value of $1,920,660.00. Following the completion of the transaction, the director now directly owns 4,458,591 shares in the company, valued at $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, December 18th, Jeff Horing sold 4,474,158 shares of nCino stock. The shares were sold at an average price of $35.75, for a total value of $159,951,148.50.
• On Monday, December 16th, Jeff Horing sold 70,673 shares of nCino stock. The stock was sold at an average price of $36.11, for a total value of $2,552,002.03.
• On Friday, December 13th, Jeff Horing sold 20,703 shares of nCino stock. The shares were 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 stock was sold at an average price of $36.69, for a total transaction 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 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 2.9 %

NASDAQ:NCNO opened at $32.54 on Friday. nCino, Inc. has a 1 year low of $28.09 and a 1 year high of $43.20. The stock has a 50-day moving average price of $37.84 and a two-hundred day moving average price of $34.31. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of -191.40, a PEG ratio of 16.39 and a beta of 0.64. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NCNO. Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 target price for the company in a research note on Monday, January 6th. 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. Truist Financial reaffirmed a “buy” rating and issued a $44.00 target price (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Keefe, Bruyette & Woods boosted their price target on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Stephens increased their price objective on shares of nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, nCino presently has an average rating of “Moderate Buy” and an average target price of $42.50.

Hedge Funds Weigh In On nCino

Institutional investors and hedge funds have recently modified their holdings of the business. Hilltop National Bank bought a new position in nCino in the fourth quarter valued at approximately $37,000. Asset Management One Co. Ltd. lifted its position in nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after acquiring an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after purchasing an additional 1,358 shares during the period. West Tower Group LLC bought a new position in nCino during the 3rd quarter worth about $126,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of nCino in the third quarter valued at about $152,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.