nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing Sells 70,673 Shares

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 70,673 shares of nCino stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $36.11, for a total transaction of $2,552,002.03. Following the sale, the director now owns 8,987,625 shares of the company’s stock, valued at approximately $324,543,138.75. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction of $758,350.89.
• On Wednesday, December 11th, Jeff Horing sold 1,167,424 shares of nCino stock. The shares were sold at an average price of $36.69, for a total value 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 value 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 value 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 Price Performance

NCNO opened at $34.54 on Friday. The stock’s 50 day moving average price is $38.63 and its 200-day moving average price is $33.95. nCino, Inc. has a 52-week low of $28.09 and a 52-week high of $43.20. The stock has a market capitalization of $4.00 billion, a PE ratio of -203.16, a price-to-earnings-growth ratio of 16.39 and a beta of 0.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new stake in shares of nCino during the 2nd quarter valued at about $26,000. Asset Management One Co. Ltd. lifted its holdings in nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after buying an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after acquiring an additional 1,358 shares in the last quarter. West Tower Group LLC bought a new stake in nCino during the 3rd quarter valued at approximately $126,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of nCino during the 3rd quarter worth approximately $152,000. 94.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NCNO has been the topic of several research reports. UBS Group began coverage on shares of nCino in a research note on Monday. They set a “buy” rating and a $44.00 price target on the stock. Macquarie lifted their target price 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. Piper Sandler restated a “neutral” rating and set a $38.00 price target on shares of nCino in a research report on Thursday, December 5th. Scotiabank lifted their price objective on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Tuesday, September 3rd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.