nCino, Inc. (NASDAQ:NCNO) Director Sells $48,869,090.42 in Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 1,356,721 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total value of $48,869,090.42. Following the completion of the transaction, the director now owns 14,656,746 shares of the company’s stock, valued at approximately $527,935,990.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, August 14th, Jeff Horing sold 800,002 shares of nCino stock. The shares were sold at an average price of $33.16, for a total value of $26,528,066.32.
• On Monday, July 29th, Jeff Horing sold 50,000 shares of nCino stock. The shares were sold at an average price of $33.30, for a total value 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 value of $30,874,069.00.
• On Monday, July 22nd, Jeff Horing sold 365,764 shares of nCino stock. The stock was sold at an average price of $33.16, for a total value of $12,128,734.24.

nCino Stock Performance

Shares of NCNO opened at $36.58 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The business has a 50-day simple moving average of $31.86 and a two-hundred day simple moving average of $31.53. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -118.00, a PEG ratio of 26.59 and a beta of 0.59. nCino, Inc. has a 52 week low of $27.13 and a 52 week high of $37.48.

nCino (NASDAQ:NCNO) last released its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The firm had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $131.06 million. During the same quarter last year, the business posted ($0.02) earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. On average, analysts expect that nCino, Inc. will post 0.05 EPS for the current year.

Institutional Trading of nCino

Several institutional investors have recently made changes to their positions in NCNO. Crewe Advisors LLC purchased a new stake in shares of nCino during the second quarter worth about $26,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of nCino during the first quarter worth about $52,000. Covestor Ltd grew its position in shares of nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after purchasing an additional 625 shares in the last quarter. Amalgamated Bank grew its position in shares of nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after purchasing an additional 1,134 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of 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 purchasing an additional 2,677 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on NCNO shares. JMP Securities reissued a “market outperform” rating and issued a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Stephens reiterated an “equal weight” rating and set a $35.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research report on Tuesday, September 3rd. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Finally, Macquarie reiterated an “outperform” rating and set a $40.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.18.

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 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.