Jeff Horing Sells 1,833,975 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 1,833,975 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the completion of the transaction, the director now owns 12,513,467 shares in the company, valued at $458,243,161.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 transaction of $48,869,090.42.
• On Wednesday, August 14th, Jeff Horing sold 800,002 shares of nCino stock. The stock was sold at an average price of $33.16, for a total transaction of $26,528,066.32.
• 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 transaction 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 transaction of $30,874,069.00.

nCino Trading Down 0.7 %

NCNO stock opened at $36.95 on Wednesday. The firm has a fifty day moving average price of $31.98 and a 200 day moving average price of $31.56. nCino, Inc. has a fifty-two week low of $27.13 and a fifty-two week high of $37.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $4.25 billion, a PE ratio of -119.19, a price-to-earnings-growth ratio of 26.59 and a beta of 0.59.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The firm had revenue of $132.40 million during the quarter, compared to analyst estimates of $131.06 million. During the same period last year, the firm posted ($0.02) earnings per share. nCino’s revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts anticipate that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NCNO has been the topic of a number of recent analyst reports. Stephens restated an “equal weight” rating and set a $35.00 target price on shares of nCino in a research note on Wednesday, August 28th. William Blair restated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. Needham & Company LLC reduced their price objective on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Finally, JMP Securities reiterated a “market outperform” rating and set a $43.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and an average target price of $38.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Crewe Advisors LLC purchased a new position in nCino during the second quarter worth $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in nCino during the first quarter worth $52,000. Covestor Ltd boosted its stake in nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after buying an additional 625 shares during the period. Amalgamated Bank boosted its stake in nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after buying an additional 1,134 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in nCino by 145.6% during the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after buying an additional 2,677 shares during the period. 94.76% of the stock is owned by hedge funds and other 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.