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Jeff Horing, Director of nCino, Inc. (NASDAQ:NCNO), recently sold a significant portion of its stake in the company. According to a recent SEC filing, Horing sold a total of 1,878,424 shares of nCino common stock over two days, with transactions occurring on December 11th and 12th. The shares were sold at an average price range of between $36.6466 and $36.6868 per share, for a total value of approximately $68.88 million. The cloud banking software provider, currently valued at $4.1 billion, has shown strong momentum with a 17% return over the past year, according to InvestingPro data.
Following these transactions, Horing indirectly retains ownership of 9,079,001 shares, as well as additional holdings through various entities. Although the stock has recently experienced a pullback, InvestingPro analysis shows that the company maintains a healthy financial position with a current ratio of 1.95 and operates with a moderate level of debt. The sale was made as part of a planned series of transactions, with specific details regarding the number of shares sold at each price available upon request. For deeper insight into nCino’s valuation and financial health metrics, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, nCino Inc. was the focus of several analyst firms following its third quarter earnings report. Keefe, Bruiette & Woods maintained its outperform rating despite cutting its price target to $44 from $49. The company noted that nCino’s earnings beat expectations, but the forecast for the fourth quarter was short due to challenges in the US mortgage sector. Despite these challenges, nCino reported strong bookings in the US, excluding the mortgage segment.
Similarly, Baird maintained a neutral stance on nCino, lowering its price target to $42 due to challenges in the mortgage sector and muted prospects for a recovery in the fourth quarter. However, the company acknowledged a recent 14% increase in company revenue and an improvement in EBIT margin.
Stephens raised his price target from $35 to $38, recognizing nCino’s strong performance outside of the mortgage sector and the company’s successful expansion into international markets. Needham also remained positive, raising his price target from $40 to $45 and maintaining a buy rating, attributing nCino’s strong performance in the third quarter to strong subscription revenue growth and effective cost management.
Despite Goldman Sachs lowering its price target for nCino due to slower core business growth and a reversal in mortgage rates, the company remains bullish on nCino’s outlook for fiscal 2026. Finally, Piper Sandler downgraded nCino from Overweight to Neutral, citing increased customer traffic in nCino’s mortgage segment. These are recent developments for nCino.
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