Insider Selling: nCino, Inc. (NASDAQ:NCNO) Director Sells 1,833,975 Shares of Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 1,833,975 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the sale, the director now directly owns 12,513,467 shares of the company’s stock, valued at approximately $458,243,161.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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.
• On Wednesday, August 14th, Jeff Horing sold 800,002 shares of nCino stock. The stock was sold at an average price of $33.16, for a total value of $26,528,066.32.
• 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 Friday, July 26th, Jeff Horing sold 921,614 shares of nCino stock. The stock was sold at an average price of $33.50, for a total value of $30,874,069.00.

nCino Stock Performance

nCino stock traded up $0.63 during mid-day trading on Monday, hitting $37.21. 1,539,722 shares of the company’s stock traded hands, compared to its average volume of 1,077,828. The firm has a 50 day simple moving average of $31.86 and a two-hundred day simple moving average of $31.53. nCino, Inc. has a fifty-two week low of $27.13 and a fifty-two week high of $37.73. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of -120.03, a P/E/G ratio of 26.59 and a beta of 0.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. On average, research analysts expect that nCino, Inc. will post 0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on NCNO. Needham & Company LLC reduced their price target on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Stephens reaffirmed an “equal weight” rating and set a $35.00 price target on shares of nCino in a research report on Wednesday, August 28th. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Tuesday, September 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price target on shares of nCino in a research report on Wednesday, August 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.82.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Precision Wealth Strategies LLC increased its position in nCino by 4.5% during the 3rd quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock worth $428,000 after buying an additional 589 shares during the period. Berry Wealth Group LP bought a new position in nCino during the 3rd quarter worth $247,000. Raymond James & Associates increased its position in nCino by 25.1% during the 3rd quarter. Raymond James & Associates now owns 504,734 shares of the company’s stock worth $15,945,000 after buying an additional 101,305 shares during the period. Handelsbanken Fonder AB increased its position in nCino by 92.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 22,500 shares of the company’s stock worth $711,000 after buying an additional 10,800 shares during the period. Finally, SG Americas Securities LLC bought a new position in nCino during the 3rd quarter worth $219,000. Institutional investors own 94.76% of the company’s stock.

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.