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

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 4,474,158 shares of the firm’s 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 owns 4,513,467 shares in the company, valued at approximately $161,356,445.25. The trade was 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 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 stock was 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 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 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 transaction of $48,869,090.42.

nCino Trading Up 2.0 %

NCNO stock opened at $35.22 on Friday. nCino, Inc. has a one year low of $28.09 and a one year high of $43.20. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of -207.16, a price-to-earnings-growth ratio of 16.39 and a beta of 0.59. The company has a fifty day moving average price of $38.63 and a two-hundred day moving average price of $33.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95.

Institutional Trading of nCino

Hedge funds have recently modified their holdings of the stock. Raymond James & Associates increased its stake in shares of nCino by 6.0% during the second quarter. Raymond James & Associates now owns 403,429 shares of the company’s stock worth $12,688,000 after purchasing an additional 22,729 shares during the period. EFG Asset Management North America Corp. lifted its holdings in shares of nCino by 31.9% during the second quarter. EFG Asset Management North America Corp. now owns 41,458 shares of the company’s stock worth $1,303,000 after buying an additional 10,015 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of nCino during the second quarter worth $26,000. Principal Financial Group Inc. boosted its position in shares of nCino by 15.6% in the second quarter. Principal Financial Group Inc. now owns 6,792 shares of the company’s stock valued at $214,000 after acquiring an additional 915 shares during the period. Finally, Maryland State Retirement & Pension System bought a new position in nCino during the second quarter worth about $202,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NCNO shares. JMP Securities reiterated a “market outperform” rating and issued a $43.00 price target on shares of nCino in a research note on Wednesday, August 28th. Barclays lifted their target price on nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, November 25th. Needham & Company LLC increased their price target on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price target on shares of nCino in a research report on Thursday, December 5th. Finally, Truist Financial reissued a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of nCino in a report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.