Jeff Horing Sells 1,167,424 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO - Get Free Report) Director Jeff Horing sold 1,167,424 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $36.69, for a total value of $42,832,786.56. Following the completion of the transaction, the director now owns 9,790,001 shares of the company's stock, valued at $359,195,136.69. The trade was a 10.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, December 9th, Jeff Horing sold 450,000 shares of nCino stock. The stock was sold at an average price of $37.27, for a total transaction of $16,771,500.00.
• On Friday, October 18th, Jeff Horing sold 1,833,975 shares of nCino stock. The shares were sold at an average price of $36.62, for a total transaction of $67,160,164.50.
• On Wednesday, October 16th, Jeff Horing sold 1,356,721 shares of nCino stock. The shares were sold at an average price of $36.02, for a total value of $48,869,090.42.

nCino Stock Down 3.0 %

Shares of NASDAQ:NCNO traded down $1.09 during mid-day trading on Friday, hitting $35.46. 837,111 shares of the company traded hands, compared to its average volume of 1,101,729. The firm's 50 day simple moving average is $38.27 and its 200 day simple moving average is $33.79. nCino, Inc. has a 52-week low of $28.09 and a 52-week high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $4.11 billion, a P/E ratio of -217.59, a PEG ratio of 16.82 and a beta of 0.59.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler reiterated a "neutral" rating and issued a $38.00 price target on shares of nCino in a research report on Thursday, December 5th. Needham & Company LLC raised their price target on nCino from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Macquarie upped their price objective on nCino from $40.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. William Blair reiterated an "outperform" rating on shares of nCino in a research report on Thursday, December 5th. Finally, JMP Securities restated a "market outperform" rating and issued a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.38.

Institutional Trading of nCino

Several large investors have recently modified their holdings of NCNO. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in nCino by 8.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company's stock valued at $244,766,000 after purchasing an additional 635,064 shares during the last quarter. Long Path Partners LP boosted its stake in shares of nCino by 43.7% during the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company's stock valued at $117,559,000 after buying an additional 1,131,271 shares during the last quarter. ShawSpring Partners LLC grew its position in shares of nCino by 115.9% during the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company's stock worth $83,830,000 after buying an additional 1,424,349 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in shares of nCino by 65.1% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company's stock worth $66,341,000 after buying an additional 828,124 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in nCino by 55.4% in the third quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company's stock valued at $65,261,000 after acquiring an additional 736,627 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.

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