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

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 1,833,975 shares of nCino 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 transaction, the director now directly owns 12,513,467 shares in the company, valued at $458,243,161.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were 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 value of $1,665,000.00.
• On Friday, July 26th, Jeff Horing sold 921,614 shares of nCino stock. The shares were sold at an average price of $33.50, for a total value of $30,874,069.00.

nCino Price Performance

NASDAQ:NCNO opened at $37.21 on Tuesday. nCino, Inc. has a 52-week low of $27.13 and a 52-week high of $37.73. The company has a market cap of $4.28 billion, a P/E ratio of -120.03, a P/E/G ratio of 26.59 and a beta of 0.59. 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 stock’s 50-day simple moving average is $31.86 and its 200 day simple moving average is $31.53.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. During the same quarter in the prior year, the business posted ($0.02) EPS. The business’s revenue was up 13.0% compared to the same quarter last year. As a group, sell-side analysts forecast that nCino, Inc. will post 0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of nCino by 3.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock valued at $459,000 after purchasing an additional 508 shares during the period. First Bank & Trust raised its stake in nCino by 5.7% in the second quarter. First Bank & Trust now owns 10,188 shares of the company’s stock valued at $320,000 after buying an additional 546 shares during the period. Precision Wealth Strategies LLC lifted its position in shares of nCino by 4.5% in the third quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock valued at $428,000 after buying an additional 589 shares during the last quarter. Covestor Ltd boosted its stake in shares of nCino by 29.6% during the 1st quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after acquiring an additional 625 shares during the period. Finally, Mesirow Institutional Investment Management Inc. increased its holdings in shares of nCino by 6.1% during the 1st quarter. Mesirow Institutional Investment Management Inc. now owns 12,422 shares of the company’s stock worth $464,000 after acquiring an additional 719 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NCNO. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $42.00 in a report on Wednesday, August 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price target on shares of nCino in a research note on Wednesday, August 28th. Truist Financial reissued a “buy” rating and set a $44.00 price objective (up previously from $37.00) on shares of nCino in a research report on Monday. William Blair restated an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Finally, Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.82.

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.