nCino (NASDAQ:NCNO) Stock: Insider Sean Desmond Sells 11,757 Shares

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 11,757 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $22.81, for a total value of $268,177.17. Following the sale, the chief executive officer owned 1,257,460 shares in the company, valued at $28,682,662.60. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Desmond also recently made the following trade(s):

• On Tuesday, November 3rd, Sean Desmond sold 29,247 shares of nCino stock. The stock was sold at an average price of $22.73, for a total value of $664,784.31.
• On Friday, October 9th, Sean Desmond sold 43,992 shares of nCino stock. The shares were sold at an average price of $19.90, for a total value of $875,440.80.
• On Monday, October 5th, Sean Desmond sold 8,064 shares of nCino stock. The stock was sold at an average price of $18.69, for a total value of $150,716.16.
• On Thursday, September 3rd, Sean Desmond sold 8,064 shares of nCino stock. The stock was sold at an average price of $23.66, for a total value of $190,794.24.

nCino Stock Performance

NCNO traded down $0.22 during trading hours on Thursday, hitting $23.22. The company’s stock had a trading volume of 1,548,348 shares, compared to its average volume of 2,755,685. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $27.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.46 billion, a PE ratio of 77.40 and a beta of 0.77. The company has a 50-day simple moving average of $21.20 and a 200 day simple moving average of $18.32.

Institutional Trading of nCino

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in nCino during the second quarter worth about $147,492,000. Bank of America Corp DE acquired a new position in shares of nCino in the 2nd quarter worth approximately $84,319,000. American Capital Management Inc. acquired a new position in shares of nCino in the 2nd quarter worth approximately $83,508,000. HMI Capital Management L.P. bought a new stake in shares of nCino in the 2nd quarter worth approximately $81,598,000. Finally, Hawk Ridge Capital Management LP grew its position in nCino by 625.4% in the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock worth $67,138,000 after buying an additional 3,864,010 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NCNO. BTIG Research reissued a “neutral” rating on shares of nCino in a report on Wednesday, August 26th. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. KeyCorp reissued a “sector weight” rating on shares of nCino in a research note on Monday, October 12th. Stephens started coverage on shares of nCino in a research report on Friday, October 16th. They set an “overweight” rating and a $26.00 price target on the stock. Finally, UBS Group reiterated a “buy” rating on shares of nCino in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, nCino has a consensus rating of “Moderate Buy” and an average price target of $23.42.

About nCino

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.

The company’s products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.