nCino, Inc. (NASDAQ:NCNO) Stock Position Lifted by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC grew its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 65.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,100,062 shares of the company’s stock after purchasing an additional 828,124 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 1.82% of nCino worth $66,341,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crewe Advisors LLC acquired a new position in nCino during the 2nd quarter valued at about $26,000. Asset Management One Co. Ltd. increased its stake in shares of nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after acquiring an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in nCino by 97.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after purchasing an additional 1,358 shares in the last quarter. West Tower Group LLC bought a new stake in nCino during the third quarter worth approximately $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in nCino in the third quarter worth approximately $152,000. 94.76% of the stock is currently owned by institutional investors.

nCino Stock Performance

Shares of NCNO opened at $41.99 on Monday. The company has a market capitalization of $4.85 billion, a PE ratio of -155.52, a PEG ratio of 34.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The company’s 50 day moving average price is $36.90 and its 200 day moving average price is $33.37. nCino, Inc. has a 52 week low of $27.47 and a 52 week high of $43.20.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NCNO. The Goldman Sachs Group raised nCino from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. William Blair restated an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Tuesday, September 3rd. Stephens reissued an “equal weight” rating and set a $35.00 target price on shares of nCino in a research note on Wednesday, August 28th. Finally, JMP Securities restated a “market outperform” rating and issued a $43.00 price target on shares of nCino in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

Insider Activity

In other nCino news, insider Sean Desmond sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the sale, the insider now directly owns 341,511 shares of the company’s stock, valued at $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William J. Ruh sold 10,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the transaction, the director now owns 226,201 shares in the company, valued at approximately $8,482,537.50. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,235,029 shares of company stock worth $117,599,204 in the last ninety days. Corporate insiders own 28.40% of the company’s stock.

nCino Company Profile

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.