nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing Sells 70,673 Shares

nCino, Inc. (NASDAQ:NCNO - Get Free Report) Director Jeff Horing sold 70,673 shares of nCino stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $36.11, for a total value of $2,552,002.03. Following the sale, the director now directly owns 8,987,625 shares in the company, valued at $324,543,138.75. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, December 13th, Jeff Horing sold 20,703 shares of nCino stock. The stock was sold at an average price of $36.63, for a total transaction of $758,350.89.
• On Wednesday, December 11th, Jeff Horing sold 1,167,424 shares of nCino stock. The shares were sold at an average price of $36.69, for a total transaction of $42,832,786.56.
• 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 value of $67,160,164.50.
• 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.

nCino Stock Down 1.6 %

Shares of NCNO traded down $0.56 during trading hours on Tuesday, reaching $35.40. The stock had a trading volume of 804,615 shares, compared to its average volume of 1,100,865. The firm has a 50-day simple moving average of $38.48 and a 200 day simple moving average of $33.91. nCino, Inc. has a 12 month low of $28.09 and a 12 month high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -211.53, a P/E/G ratio of 16.82 and a beta of 0.59.

Wall Street Analysts Forecast Growth

NCNO has been the subject of several analyst reports. Raymond James upgraded shares of nCino from a "market perform" rating to an "outperform" rating and set a $38.00 price target for the company in a report on Tuesday, September 3rd. Stephens lifted their target price on shares of nCino from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Needham & Company LLC upped their price target on shares of nCino from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Piper Sandler reissued a "neutral" rating and issued a $38.00 price objective on shares of nCino in a research report on Thursday, December 5th. Finally, Barclays boosted their price objective on nCino from $34.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, November 25th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.50.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Crewe Advisors LLC bought a new stake in shares of nCino during the second quarter worth about $26,000. Asset Management One Co. Ltd. lifted its position in nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company's stock valued at $62,000 after acquiring an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company's stock valued at $87,000 after purchasing an additional 1,358 shares during the last quarter. West Tower Group LLC bought a new stake in nCino during the 3rd quarter worth approximately $126,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of nCino in the third quarter worth approximately $152,000. 94.76% of the stock is owned by institutional investors.

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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