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 the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $35.75, for a total value of $159,951,148.50. Following the completion of the sale, the director now owns 4,513,467 shares of the company’s stock, valued at approximately $161,356,445.25. This represents a 49.78 % decrease in their ownership of the stock. The sale 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 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 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 shares were sold at an average price of $36.69, for a total transaction 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 transaction 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 stock was sold at an average price of $36.02, for a total value of $48,869,090.42.

nCino Price Performance

NCNO traded up $0.68 during trading on Friday, reaching $35.22. 2,272,972 shares of the company were exchanged, compared to its average volume of 1,127,989. nCino, Inc. has a 12-month low of $28.09 and a 12-month high of $43.20. The company’s 50-day moving average is $38.63 and its two-hundred day moving average is $33.95. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -207.16, a P/E/G ratio of 16.39 and a beta of 0.59.

Wall Street Analyst Weigh In

NCNO has been the subject of several recent research reports. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Tuesday, September 3rd. Morgan Stanley lowered their target price on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. UBS Group started coverage on shares of nCino in a report on Monday. They set a “buy” rating and a $44.00 price target on the stock. Truist Financial reiterated a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Finally, Stephens upped their target price on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Institutional Investors Weigh In On nCino

A number of institutional investors and hedge funds have recently modified their holdings of the company. Long Path Partners LP raised its position in shares of nCino by 151.1% in the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after buying an additional 1,558,529 shares in the last quarter. ShawSpring Partners LLC raised its holdings in shares of nCino by 115.9% in the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after acquiring an additional 1,424,349 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of nCino during the 2nd quarter valued at about $41,805,000. Senator Investment Group LP purchased a new position in shares of nCino during the second quarter worth about $40,885,000. Finally, Millennium Management LLC increased its position in shares of nCino by 438.3% in the second quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock worth $45,673,000 after purchasing an additional 1,182,452 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.