Sean Desmond Sells 8,064 Shares of nCino (NASDAQ:NCNO) Stock

nCino Inc. (NASDAQ:NCNO) CEO Sean Desmond sold 8,064 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $17.47, for a total value of $140,878.08. Following the completion of the sale, the chief executive officer owned 1,262,492 shares in the company, valued at $22,055,735.24. The trade was a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 3rd, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $16.26, for a total value of $131,120.64.
• On Tuesday, May 5th, Sean Desmond sold 16,589 shares of nCino stock. The shares were sold at an average price of $18.04, for a total value of $299,265.56.
• On Monday, May 4th, Sean Desmond sold 22,073 shares of nCino stock. The stock was sold at an average price of $18.02, for a total value of $397,755.46.

nCino Trading Down 2.1%

NASDAQ NCNO opened at $16.98 on Friday. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $33.92. The stock has a market cap of $1.86 billion, a P/E ratio of 141.50 and a beta of 0.68. The stock’s fifty day moving average price is $15.99 and its 200-day moving average price is $18.12. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31.

Wall Street Analysts Forecast Growth

NCNO has been the subject of a number of analyst reports. Piper Sandler upgraded shares of nCino from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $30.00 to $22.00 in a research note on Wednesday, April 1st. Robert W. Baird reduced their target price on nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. The Goldman Sachs Group lowered their price target on nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 target price on shares of nCino in a research report on Thursday, May 28th. Finally, Barclays raised their price target on shares of nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

Institutional Investors Weigh In On nCino

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC grew its holdings in nCino by 255.8% during the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after buying an additional 821 shares in the last quarter. Optiver Holding B.V. bought a new position in shares of nCino during the first quarter worth $32,000. Los Angeles Capital Management LLC bought a new position in shares of nCino during the fourth quarter worth $38,000. Versant Capital Management Inc grew its stake in nCino by 664.9% during the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock valued at $40,000 after acquiring an additional 2,101 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in nCino by 76.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock valued at $43,000 after acquiring an additional 722 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

About nCino

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.