nCino (NASDAQ:NCNO) CFO Sells $273,100.95 in Stock
by Michael Walen · The Markets DailynCino Inc. (NASDAQ:NCNO – Get Free Report) CFO Gregory Orenstein sold 12,015 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total transaction of $273,100.95. Following the completion of the transaction, the chief financial officer directly owned 678,498 shares of the company’s stock, valued at approximately $15,422,259.54. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
nCino Stock Performance
Shares of NCNO opened at $22.67 on Friday. The company has a 50-day simple moving average of $21.22 and a two-hundred day simple moving average of $18.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $2.40 billion, a PE ratio of 75.57 and a beta of 0.77. nCino Inc. has a one year low of $13.80 and a one year high of $27.50.
Hedge Funds Weigh In On nCino
Several large investors have recently made changes to their positions in NCNO. IFP Advisors Inc grew its stake in shares of nCino by 7,370.4% in the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after buying an additional 1,990 shares during the last quarter. Optiver Holding B.V. purchased a new position in nCino during the first quarter valued at $32,000. Versant Capital Management Inc raised its stake in nCino by 664.9% during the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock valued at $40,000 after buying an additional 2,101 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in nCino by 5,250.0% in the first quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company’s stock worth $50,000 after acquiring an additional 3,255 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in nCino by 605.7% in the third quarter. Sterling Capital Management LLC now owns 3,458 shares of the company’s stock worth $63,000 after acquiring an additional 2,968 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on NCNO shares. Stephens began coverage on nCino in a research report on Friday, October 16th. They set an “overweight” rating and a $26.00 price target on the stock. Citigroup reiterated a “market outperform” rating on shares of nCino in a report on Wednesday, August 26th. Zacks Research lowered nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Weiss Ratings restated a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Finally, Citizens Jmp boosted their target price on shares of nCino from $23.00 to $25.00 and gave the company a “market outperform” rating in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.42.
Check Out Our Latest Report on NCNO
Key Headlines Impacting nCino
Here are the key news stories impacting nCino this week:
- Positive Sentiment: nCino’s recently launched AI suite could offer a growth opportunity. Investor attention may turn to adoption and management’s outlook when the company reports earnings in December. Article: nCino stock approaches December earnings after AI suite launch
- Neutral Sentiment: Several nCino executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold shares. The reported transactions totaled about 66,700 shares, but were described as covering tax withholding on vested equity awards; the CEO’s sales were made under a pre-arranged trading plan. This may draw attention, though the stated reasons make it a limited indicator of their view on NCNO. Article: Insider Selling: nCino SVP Sells 905 Shares
nCino Company Profile
nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.
The company’s products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.
Featured Articles
- Five stocks we like better than nCino
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?