nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing Sells 450,000 Shares

nCino, Inc. (NASDAQ:NCNO) Director Jeff Horing sold 450,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $37.27, for a total transaction of $16,771,500.00. Following the transaction, the director now directly owns 12,063,467 shares of the company’s stock, valued at $449,605,415.09. This represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 Friday, October 18th, Jeff Horing sold 1,833,975 shares of nCino stock. The shares were sold at an average price of $36.62, for a total value 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 Stock Performance

nCino stock opened at $35.46 on Friday. nCino, Inc. has a fifty-two week low of $28.09 and a fifty-two week high of $43.20. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -208.59, a PEG ratio of 16.82 and a beta of 0.59. The stock has a fifty day moving average of $38.36 and a two-hundred day moving average of $33.82. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

Wall Street Analyst Weigh In

NCNO has been the topic of a number of recent analyst reports. Needham & Company LLC upped their price target on shares of nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Scotiabank upped their target price on shares of nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Macquarie increased their target price on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Truist Financial reissued a “buy” rating and set a $44.00 price target (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Finally, Keefe, Bruyette & Woods raised their price objective on nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, nCino has an average rating of “Moderate Buy” and an average target price of $42.38.

Institutional Trading of nCino

A number of large investors have recently made changes to their positions in the stock. Long Path Partners LP lifted its holdings in nCino by 151.1% in the 2nd quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock valued at $81,460,000 after purchasing an additional 1,558,529 shares in the last quarter. ShawSpring Partners LLC lifted its stake in shares of nCino by 115.9% during the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after buying an additional 1,424,349 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in nCino during the second quarter worth approximately $41,805,000. Senator Investment Group LP acquired a new stake in nCino during the second quarter worth approximately $40,885,000. Finally, Millennium Management LLC grew its stake in nCino by 438.3% in the 2nd quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock worth $45,673,000 after acquiring an additional 1,182,452 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.