Sean Desmond Sells 11,815 Shares of nCino (NASDAQ:NCNO) Stock

by · The Markets Daily

nCino Inc. (NASDAQ:NCNO – Get Free Report) CEO Sean Desmond sold 11,815 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total transaction of $230,746.95. Following the completion of the transaction, the chief executive officer directly owned 1,231,080 shares of the company’s stock, valued at $24,042,992.40. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Desmond also recently made the following trade(s):

  • On Tuesday, August 4th, Sean Desmond sold 28,675 shares of nCino stock. The stock was sold at an average price of $19.22, for a total transaction of $551,133.50.
  • On Monday, July 6th, Sean Desmond sold 8,064 shares of nCino stock. The shares were sold at an average price of $17.47, for a total transaction of $140,878.08.
  • On Wednesday, June 3rd, Sean Desmond sold 8,064 shares of nCino stock. The stock was sold at an average price of $16.26, for a total transaction of $131,120.64.

nCino Stock Performance

Shares of NASDAQ:NCNO traded down $0.24 on Thursday, hitting $18.99. 1,654,296 shares of the company were exchanged, compared to its average volume of 2,978,332. The firm has a market capitalization of $2.08 billion, a P/E ratio of 158.25 and a beta of 0.66. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $16.64 and its 200 day moving average price is $17.11. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92.

Analyst Ratings Changes

Several research analysts have recently issued reports on NCNO shares. Weiss Ratings upgraded nCino from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of nCino in a research report on Thursday, May 28th. Citigroup reiterated a “market outperform” rating on shares of nCino in a report on Monday, June 22nd. Zacks Research lowered shares of nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, The Goldman Sachs Group dropped their price objective on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.29.

Read Our Latest Research Report on nCino

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Hawk Ridge Capital Management LP grew its position in nCino by 625.4% during the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after buying an additional 3,864,010 shares during the period. Bank of America Corp DE boosted its stake in shares of nCino by 475.1% during the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock worth $68,146,000 after acquiring an additional 2,076,579 shares in the last quarter. Millennium Management LLC grew its position in shares of nCino by 262.8% during the 4th quarter. Millennium Management LLC now owns 2,341,532 shares of the company’s stock valued at $60,037,000 after acquiring an additional 1,696,051 shares during the period. Senvest Management LLC increased its stake in shares of nCino by 68.6% in the 4th quarter. Senvest Management LLC now owns 4,078,276 shares of the company’s stock valued at $104,567,000 after purchasing an additional 1,658,868 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in nCino in the 3rd quarter worth about $36,962,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

About nCino

(Get Free Report)

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.

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