Insider Selling: nCino, Inc. (NASDAQ:NCNO) CEO Sells $375,894.84 in Stock

nCino, Inc. (NASDAQ:NCNO) CEO Pierre Naude sold 10,924 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $34.41, for a total transaction of $375,894.84. Following the completion of the transaction, the chief executive officer now owns 1,159,395 shares of the company’s stock, valued at $39,894,781.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Pierre Naude also recently made the following trade(s):

• On Monday, February 5th, Pierre Naude sold 5,712 shares of nCino stock. The shares were sold at an average price of $30.66, for a total transaction of $175,129.92.
• On Friday, February 2nd, Pierre Naude sold 5,767 shares of nCino stock. The shares were sold at an average price of $31.22, for a total transaction of $180,045.74.

nCino Stock Performance

Shares of NASDAQ:NCNO opened at $32.17 on Friday. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -84.66, a price-to-earnings-growth ratio of 27.66 and a beta of 0.49. The company has a 50-day moving average price of $31.34 and a 200-day moving average price of $30.96. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.05. nCino, Inc. has a 12 month low of $21.26 and a 12 month high of $37.48.

Hedge Funds Weigh In On nCino

A number of institutional investors have recently bought and sold shares of the stock. First Bank & Trust raised its stake in nCino by 4.1% in the fourth quarter. First Bank & Trust now owns 9,970 shares of the company’s stock worth $335,000 after buying an additional 395 shares in the last quarter. State of Wyoming raised its stake in nCino by 56.8% in the fourth quarter. State of Wyoming now owns 1,350 shares of the company’s stock worth $36,000 after buying an additional 489 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in nCino by 2.2% in the third quarter. Commonwealth Equity Services LLC now owns 25,371 shares of the company’s stock worth $865,000 after buying an additional 543 shares in the last quarter. Parkwood LLC raised its stake in nCino by 6.7% in the fourth quarter. Parkwood LLC now owns 10,400 shares of the company’s stock worth $350,000 after buying an additional 655 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in nCino by 1.4% in the third quarter. Legal & General Group Plc now owns 48,533 shares of the company’s stock worth $1,543,000 after buying an additional 693 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods assumed coverage on shares of nCino in a research report on Tuesday. They set an “outperform” rating and a $41.00 price target for the company. Needham & Company LLC upped their price target on shares of nCino from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Morgan Stanley upped their price target on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Piper Sandler restated an “overweight” rating and set a $42.00 price target on shares of nCino in a research report on Wednesday, March 27th. Finally, William Blair restated an “outperform” rating on shares of nCino in a research report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.91.

nCino Company Profile

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, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.