nCino (NASDAQ:NCNO) Director Pierre Naude Sells 4,770 Shares of Stock

nCino Inc. (NASDAQ:NCNO) Director Pierre Naude sold 4,770 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 $108,422.10. Following the sale, the director directly owned 1,111,937 shares in the company, valued at approximately $25,274,328.01. This represents a 0.43% decrease in their position. The sale was disclosed in a legal filing 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.

nCino Trading Down 1.0%

NCNO opened at $23.21 on Friday. 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 stock has a market capitalization of $2.45 billion, a PE ratio of 77.37 and a beta of 0.77. 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 $21.23 and a two-hundred day moving average price of $18.32.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of nCino from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Piper Sandler initiated coverage on nCino in a research report on Monday, August 24th. They issued an “overweight” rating and a $25.00 price objective on the stock. Stephens began coverage on nCino in a research report on Friday, October 16th. They set an “overweight” rating and a $26.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of nCino in a research report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, nCino has an average rating of “Moderate Buy” and an average target price of $23.42.

Hedge Funds Weigh In On nCino

Several large investors have recently bought and sold shares of the business. Fulcrum Asset Management LLP bought a new position in nCino in the third quarter valued at approximately $467,000. CenterBook Partners LP acquired a new stake in nCino during the 3rd quarter worth $1,001,000. Commonwealth Equity Services LLC acquired a new stake in nCino during the 3rd quarter worth $206,000. Cowa LLC raised its position in shares of nCino by 20.6% during the 3rd quarter. Cowa LLC now owns 21,650 shares of the company’s stock valued at $393,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Integrity Alliance LLC. bought a new stake in shares of nCino during the 3rd quarter valued at $562,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

nCino News Summary

Here are the key news stories impacting nCino this week:

• Positive Sentiment: Coverage highlights nCino’s AI suite launch as the company approaches its December earnings report. The product could provide a growth opportunity, while results and management’s outlook will be important catalysts. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold a combined 66,702 shares. Most sales were to cover tax withholding from equity awards; the CEO’s sales were under a pre-arranged trading plan. The transactions may attract attention, but their stated purpose makes them a limited signal of management’s view of NCNO shares. SEC filing

nCino Company Profile

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.