Jeff Horing Sells 921,614 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 921,614 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $33.50, for a total transaction of $30,874,069.00. Following the sale, the director now directly owns 17,552,574 shares of the company’s stock, valued at approximately $588,011,229. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, July 29th, Jeff Horing sold 50,000 shares of nCino stock. The stock was sold at an average price of $33.30, for a total value of $1,665,000.00.
• On Monday, July 22nd, Jeff Horing sold 365,764 shares of nCino stock. The stock was sold at an average price of $33.16, for a total value of $12,128,734.24.
• On Wednesday, July 17th, Jeff Horing sold 126,641 shares of nCino stock. The stock was sold at an average price of $31.01, for a total value of $3,927,137.41.
• On Tuesday, July 2nd, Jeff Horing sold 133,487 shares of nCino stock. The stock was sold at an average price of $31.51, for a total value of $4,206,175.37.
• On Wednesday, June 12th, Jeff Horing sold 1,871,828 shares of nCino stock. The stock was sold at an average price of $31.51, for a total value of $58,981,300.28.

nCino Price Performance

NASDAQ:NCNO traded down $0.22 during mid-day trading on Tuesday, reaching $32.85. 544,200 shares of the stock were exchanged, compared to its average volume of 1,001,734. The business has a fifty day moving average price of $31.38 and a 200 day moving average price of $31.33. The firm has a market capitalization of $3.78 billion, a PE ratio of -105.96, a PEG ratio of 18.30 and a beta of 0.59. nCino, Inc. has a 1-year low of $27.13 and a 1-year high of $37.48. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.10.

nCino (NASDAQ:NCNO) last released its earnings results on Wednesday, May 29th. The company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $128.09 million for the quarter, compared to analyst estimates of $126.59 million. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. Research analysts expect that nCino, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On nCino

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in nCino by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after purchasing an additional 148,390 shares in the last quarter. Wasatch Advisors LP increased its stake in nCino by 18.9% in the 4th quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock worth $75,777,000 after purchasing an additional 358,766 shares in the last quarter. Meritage Group LP increased its stake in nCino by 2.3% in the 1st quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock worth $65,451,000 after purchasing an additional 39,828 shares in the last quarter. Capital International Investors purchased a new position in nCino in the 1st quarter worth about $60,703,000. Finally, Clearbridge Investments LLC boosted its position in nCino by 14.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock worth $45,985,000 after acquiring an additional 157,470 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NCNO shares. Robert W. Baird reduced their price objective on nCino from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 target price on shares of nCino in a research note on Thursday, May 30th. Keefe, Bruyette & Woods initiated coverage on nCino in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 target price on the stock. JMP Securities initiated coverage on nCino in a research note on Monday, July 22nd. They issued an “outperform” rating and a $43.00 target price on the stock. Finally, William Blair reiterated an “outperform” rating on shares of nCino in a research note on Wednesday, June 26th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, nCino currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.64.

About nCino

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.