nCino, Inc. (NASDAQ:NCNO - Get Free Report) CEO Sean Desmond sold 5,034 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40. Following the completion of the sale, the chief executive officer now directly owns 306,477 shares in the company, valued at $9,991,150.20. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
nCino Stock Up 1.6 %
Shares of NASDAQ NCNO traded up $0.52 during midday trading on Monday, reaching $32.96. 1,021,461 shares of the company's stock traded hands, compared to its average volume of 984,460. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -193.87, a P/E/G ratio of 5.70 and a beta of 0.65. nCino, Inc. has a one year low of $28.09 and a one year high of $43.20. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock's 50 day simple moving average is $34.47 and its 200-day simple moving average is $34.56.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on NCNO shares. UBS Group began coverage on nCino in a research note on Monday, December 16th. They set a "buy" rating and a $44.00 target price on the stock. Stephens upped their price objective on nCino from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Truist Financial reiterated a "buy" rating and set a $44.00 target price (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Keefe, Bruyette & Woods upped their price target on shares of nCino from $41.00 to $49.00 and gave the stock an "outperform" rating in a report on Monday, December 2nd. Finally, Needham & Company LLC lifted their price objective on shares of nCino from $40.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.50.
Check Out Our Latest Research Report on NCNO
Institutional Trading of nCino
Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in nCino by 18.8% during the second quarter. The Manufacturers Life Insurance Company now owns 20,467 shares of the company's stock valued at $644,000 after purchasing an additional 3,233 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of nCino by 3.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company's stock valued at $459,000 after buying an additional 508 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of nCino by 16.2% in the 2nd quarter. Truist Financial Corp now owns 41,053 shares of the company's stock valued at $1,291,000 after buying an additional 5,712 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of nCino in the 3rd quarter worth approximately $219,000. Finally, Handelsbanken Fonder AB lifted its position in nCino by 92.3% during the third quarter. Handelsbanken Fonder AB now owns 22,500 shares of the company's stock valued at $711,000 after acquiring an additional 10,800 shares during the last quarter. Institutional investors own 94.76% of the company's stock.
About nCino
(
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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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