nCino (NASDAQ:NCNO) SVP Sells $20,570.65 in Stock

nCino Inc. (NASDAQ:NCNO) SVP Jeanette Sellers sold 905 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total transaction of $20,570.65. Following the transaction, the senior vice president owned 46,858 shares in the company, valued at approximately $1,065,082.34. The trade was a 1.89% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, August 27th, Jeanette Sellers sold 690 shares of nCino stock. The stock was sold at an average price of $22.70, for a total transaction of $15,663.00.

nCino Price Performance

nCino stock opened at $22.67 on Friday. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $27.50. The firm has a 50 day moving average price of $21.22 and a 200 day moving average price of $18.32. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 75.57 and a beta of 0.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85.

Key Headlines Impacting nCino

Here are the key news stories impacting nCino this week:

• Positive Sentiment: nCino’s recently launched AI suite could offer a growth opportunity. Investor attention may turn to adoption and management’s outlook when the company reports earnings in December. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several nCino executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold shares. The reported transactions totaled about 66,700 shares, but were described as covering tax withholding on vested equity awards; the CEO’s sales were made under a pre-arranged trading plan. This may draw attention, though the stated reasons make it a limited indicator of their view on NCNO. Article: Insider Selling: nCino SVP Sells 905 Shares

Institutional Trading of nCino

A number of institutional investors and hedge funds have recently bought and sold shares of NCNO. Janney Montgomery Scott LLC lifted its stake in nCino by 9.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,467 shares of the company’s stock worth $187,000 after acquiring an additional 1,039 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in nCino by 4.4% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 25,915 shares of the company’s stock worth $388,000 after acquiring an additional 1,087 shares during the period. The Manufacturers Life Insurance Company boosted its position in nCino by 8.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 23,973 shares of the company’s stock worth $359,000 after acquiring an additional 1,870 shares during the period. IFP Advisors Inc grew its stake in nCino by 7,370.4% during the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock valued at $33,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its stake in nCino by 6.0% during the 3rd quarter. Angeles Wealth Management LLC now owns 36,010 shares of the company’s stock valued at $653,000 after acquiring an additional 2,052 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

NCNO has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Citizens Jmp upped their price objective on nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 26th. Piper Sandler initiated coverage on nCino in a research report on Monday, August 24th. They issued an “overweight” rating and a $25.00 target price on the stock. Truist Financial lifted their target price on nCino from $19.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, August 26th. Finally, Zacks Research cut nCino from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock 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.