In a recent transaction, Jeff Horing, a director at nCino, Inc. (NASDAQ:NCNO), sold 54,876 shares of the company's common stock. The shares were sold at a weighted average price of $35.0012 each, amounting to a total transaction value of approximately $1.92 million. Following this sale, Horing holds 4,458,591 shares indirectly, with additional direct holdings of 117,603 shares. The transaction occurred near the stock's current trading levels, with InvestingPro data showing the company currently has a market capitalization of $3.9 billion and analysts maintaining a consensus hold rating with potential upside of 28%.
These shares were sold in multiple transactions at prices ranging from $34.510 to $35.390. According to InvestingPro analysis, nCino operates with moderate debt levels and maintains strong liquidity, with current assets exceeding short-term obligations. The details of the ownership structure, as well as the entities involved, are outlined in the company's filings, which include various investment partnerships and holding companies. For deeper insights into nCino's valuation and financial health, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, nCino Inc. has been the subject of several analyst revisions and financial updates. Barclays (LON:BARC) upgraded nCino's stock from Equalweight to Overweight, citing three primary reasons for the positive reassessment. The company's revenue grew by 13.2% in the last twelve months, largely due to improvements for nCino's bank customers leading to higher commercial loan volumes. Barclays also expects the company's new platform pricing model, set to become the standard for all new business from February 1, 2025, to accelerate revenue recognition from new deals.
nCino also announced modifications to employment agreements for its top executives to align with market practices. The company, which reported robust revenue growth of 13% year-over-year, has been the subject of various analyst firms' attention due to its recent financial performance. UBS initiated coverage on nCino with a Buy rating, projecting a compound annual growth rate of about 15% through fiscal year 2028.
Keefe, Bruyette & Woods maintained an Outperform rating on nCino's stock, despite reducing the price target to $44.00 from the previous $49.00 following the company's third-quarter earnings. Meanwhile, Baird adjusted its outlook on nCino, lowering its price target to $42 while maintaining a Neutral stance. This change was influenced by nCino's recent financial performance, which showed a revenue increase of 14% and an improvement in EBIT margins. Stephens raised its price target on nCino to $38.00, up from the previous target of $35.00, maintaining an Equal Weight rating on the stock.
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