nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing Sells 1,356,721 Shares

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 1,356,721 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total value of $48,869,090.42. Following the transaction, the director now directly owns 14,656,746 shares in the company, valued at approximately $527,935,990.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, August 14th, Jeff Horing sold 800,002 shares of nCino stock. The shares were sold at an average price of $33.16, for a total transaction of $26,528,066.32.
• On Monday, July 29th, Jeff Horing sold 50,000 shares of nCino stock. The stock was sold at an average price of $33.30, for a total transaction of $1,665,000.00.
• On Friday, July 26th, Jeff Horing sold 921,614 shares of nCino stock. The shares were sold at an average price of $33.50, for a total value of $30,874,069.00.
• On Monday, July 22nd, Jeff Horing sold 365,764 shares of nCino stock. The stock was sold at an average price of $33.16, for a total value of $12,128,734.24.

nCino Stock Performance

Shares of NCNO stock opened at $36.58 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The company has a market cap of $4.21 billion, a PE ratio of -118.00, a PEG ratio of 26.59 and a beta of 0.59. nCino, Inc. has a 12-month low of $27.13 and a 12-month high of $37.48. The business’s fifty day simple moving average is $31.86 and its 200-day simple moving average is $31.58.

nCino (NASDAQ:NCNO) last released its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The firm had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same period in the prior year, the firm earned ($0.02) EPS. The firm’s revenue was up 13.0% on a year-over-year basis. Analysts expect that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On nCino

Several hedge funds have recently bought and sold shares of the stock. Capital International Investors purchased a new position in shares of nCino during the 1st quarter valued at approximately $60,703,000. Long Path Partners LP increased its holdings in nCino by 151.1% in the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock valued at $81,460,000 after buying an additional 1,558,529 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in nCino in the second quarter valued at $41,805,000. Senator Investment Group LP acquired a new position in shares of nCino in the second quarter worth about $40,885,000. Finally, ShawSpring Partners LLC purchased a new stake in shares of nCino during the 2nd quarter worth about $38,663,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NCNO has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and upped their price target for the stock from $34.00 to $42.00 in a report on Wednesday, August 14th. Truist Financial reiterated a “buy” rating and issued a $37.00 price target on shares of nCino in a report on Wednesday, August 28th. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Tuesday, September 3rd. Needham & Company LLC dropped their price target on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Finally, JMP Securities restated a “market outperform” rating and issued a $43.00 price objective on shares of nCino in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.18.

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.