nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing Sells 54,876 Shares

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 54,876 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the sale, the director now directly owns 4,458,591 shares in the company, valued at approximately $156,050,685. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, December 18th, Jeff Horing sold 4,474,158 shares of nCino stock. The shares were sold at an average price of $35.75, for a total transaction of $159,951,148.50.
• 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 transaction of $2,552,002.03.
• On Friday, December 13th, Jeff Horing sold 20,703 shares of nCino stock. The shares were 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 stock was 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 shares were 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 stock was sold at an average price of $36.02, for a total transaction of $48,869,090.42.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $33.51 on Thursday. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -197.11, a price-to-earnings-growth ratio of 16.39 and a beta of 0.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50 day simple moving average is $37.91 and its 200-day simple moving average is $34.32. nCino, Inc. has a 12 month low of $28.09 and a 12 month high of $43.20.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in nCino by 15.6% during the second quarter. Principal Financial Group Inc. now owns 6,792 shares of the company’s stock worth $214,000 after acquiring an additional 915 shares during the last quarter. Natixis Advisors LLC raised its position in shares of nCino by 30.6% during the 2nd quarter. Natixis Advisors LLC now owns 13,889 shares of the company’s stock worth $437,000 after purchasing an additional 3,257 shares during the last quarter. Rhumbline Advisers grew its holdings in nCino by 19.9% during the 2nd quarter. Rhumbline Advisers now owns 92,426 shares of the company’s stock valued at $2,907,000 after buying an additional 15,362 shares during the last quarter. Victory Capital Management Inc. increased its position in nCino by 20.9% during the second quarter. Victory Capital Management Inc. now owns 10,248 shares of the company’s stock worth $322,000 after buying an additional 1,772 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of nCino by 25.7% in the second quarter. Arizona State Retirement System now owns 17,586 shares of the company’s stock worth $553,000 after acquiring an additional 3,595 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley lowered their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Keefe, Bruyette & Woods lifted their target price on nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Robert W. Baird cut their price target on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. Piper Sandler reiterated a “neutral” rating and issued a $38.00 price objective on shares of nCino in a research report on Thursday, December 5th. Finally, Scotiabank boosted their price objective on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.50.

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.