nCino, Inc. (NASDAQ:NCNO) Director Sells $26,528,066.32 in Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 800,002 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $33.16, for a total value of $26,528,066.32. Following the completion of the sale, the director now owns 16,649,942 shares in the company, valued at approximately $552,112,076.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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 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.
• On Monday, July 22nd, Jeff Horing sold 365,764 shares of nCino stock. The shares were sold at an average price of $33.16, for a total transaction 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 transaction of $3,927,137.41.
• On Tuesday, July 2nd, Jeff Horing sold 133,487 shares of nCino stock. The shares were sold at an average price of $31.51, for a total transaction 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 transaction of $58,981,300.28.

nCino Trading Down 0.5 %

Shares of NCNO stock opened at $34.24 on Monday. nCino, Inc. has a 1 year low of $27.13 and a 1 year high of $37.48. The firm has a fifty day moving average price of $31.87 and a 200-day moving average price of $31.29. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -110.45, a PEG ratio of 17.54 and a beta of 0.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.07 and a quick ratio of 1.07.

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

Institutional Trading of nCino

Several institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. bought a new position in shares of nCino in the fourth quarter worth about $228,000. Strs Ohio purchased a new stake in shares of nCino during the 4th quarter valued at about $990,000. California Public Employees Retirement System lifted its holdings in shares of nCino by 2.7% in the 4th quarter. California Public Employees Retirement System now owns 98,181 shares of the company’s stock valued at $3,302,000 after acquiring an additional 2,601 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of nCino by 9.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 84,174 shares of the company’s stock valued at $2,831,000 after purchasing an additional 6,944 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of nCino by 22.5% during the 4th quarter. Victory Capital Management Inc. now owns 8,209 shares of the company’s stock valued at $276,000 after purchasing an additional 1,508 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. The Goldman Sachs Group raised nCino from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $42.00 in a report on Wednesday, August 14th. Piper Sandler reissued an “overweight” rating and issued a $38.00 target price on shares of nCino in a research report on Monday, July 1st. Robert W. Baird lowered their target price on shares of nCino from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. JMP Securities started coverage on shares of nCino in a report on Monday, July 22nd. They set an “outperform” rating and a $43.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of nCino in a report on Wednesday, June 26th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.31.

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.