Jeff Horing Sells 4,474,158 Shares of nCino, Inc. (NASDAQ:NCNO) Stock

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 4,474,158 shares of nCino stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $35.75, for a total transaction of $159,951,148.50. Following the sale, the director now directly owns 4,513,467 shares in the company, valued at $161,356,445.25. This trade represents a 49.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, December 16th, Jeff Horing sold 70,673 shares of nCino stock. The shares were sold at an average price of $36.11, for a total value of $2,552,002.03.
• 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 value 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 value of $42,832,786.56.
• On Monday, December 9th, Jeff Horing sold 450,000 shares of nCino stock. The shares were sold at an average price of $37.27, for a total value of $16,771,500.00.
• On Friday, October 18th, Jeff Horing sold 1,833,975 shares of nCino stock. The stock was sold at an average price of $36.62, for a total transaction of $67,160,164.50.
• On Wednesday, October 16th, Jeff Horing sold 1,356,721 shares of nCino stock. The shares were sold at an average price of $36.02, for a total transaction of $48,869,090.42.

nCino Stock Up 2.0 %

NCNO stock opened at $35.22 on Friday. The stock has a market cap of $4.08 billion, a PE ratio of -207.16, a price-to-earnings-growth ratio of 16.39 and a beta of 0.59. The firm’s 50-day simple moving average is $38.65 and its 200 day simple moving average is $33.99. nCino, Inc. has a fifty-two week low of $28.09 and a fifty-two week high of $43.20. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $43.00 target price on shares of nCino in a research report on Wednesday, August 28th. Stephens boosted their price objective on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Truist Financial reaffirmed a “buy” rating and set a $44.00 target price (up previously from $37.00) on shares of nCino in a report on Monday, October 21st. Morgan Stanley lowered their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Finally, Robert W. Baird dropped their price target on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.50.

Institutional Investors Weigh In On nCino

Several large investors have recently made changes to their positions in NCNO. Crewe Advisors LLC acquired a new stake in nCino in the 2nd quarter valued at approximately $26,000. Asset Management One Co. Ltd. grew its stake in shares of nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after purchasing an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of nCino by 97.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after purchasing an additional 1,358 shares in the last quarter. West Tower Group LLC acquired a new position in shares of nCino during the third quarter valued at $126,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of nCino during the third quarter valued at about $152,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.