Insider Selling: nCino (NASDAQ:NCNO) SVP Sells $15,663.00 in Stock

nCino Inc. (NASDAQ:NCNO) SVP Jeanette Sellers sold 690 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $22.70, for a total transaction of $15,663.00. Following the transaction, the senior vice president owned 47,763 shares in the company, valued at approximately $1,084,220.10. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Jeanette Sellers also recently made the following trade(s):

• On Wednesday, August 5th, Jeanette Sellers sold 1,536 shares of nCino stock. The shares were sold at an average price of $19.53, for a total transaction of $29,998.08.
• On Tuesday, August 4th, Jeanette Sellers sold 887 shares of nCino stock. The shares were sold at an average price of $19.22, for a total transaction of $17,048.14.

nCino Stock Performance

Shares of NCNO stock opened at $22.96 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 76.53 and a beta of 0.69. nCino Inc. has a one year low of $13.80 and a one year high of $31.92. The company has a 50 day moving average price of $18.83 and a 200 day moving average price of $17.07.

Institutional Investors Weigh In On nCino

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of nCino in the 2nd quarter valued at $147,492,000. Bank of America Corp DE acquired a new position in shares of nCino during the 2nd quarter valued at $84,319,000. American Capital Management Inc. purchased a new stake in nCino during the 2nd quarter worth $83,508,000. HMI Capital Management L.P. purchased a new stake in nCino during the 2nd quarter worth $81,598,000. Finally, Hawk Ridge Capital Management LP increased its holdings in nCino by 625.4% in the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after purchasing an additional 3,864,010 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Zacks Research downgraded nCino from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. UBS Group reiterated a “buy” rating on shares of nCino in a report on Wednesday, August 26th. Piper Sandler began coverage on nCino in a research report on Monday, August 24th. They set an “overweight” rating and a $25.00 price target for the company. The Goldman Sachs Group dropped their price target on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Finally, Truist Financial raised their price objective on nCino from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.38.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.