ArrowMark Colorado Holdings LLC Has $66.34 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

ArrowMark Colorado Holdings LLC grew its position in nCino, Inc. (NASDAQ:NCNO) by 65.1% during the third quarter, HoldingsChannel reports. The firm owned 2,100,062 shares of the company’s stock after buying an additional 828,124 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in nCino were worth $66,341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Simplicity Wealth LLC bought a new position in nCino in the 2nd quarter worth $3,530,000. Select Equity Group L.P. increased its stake in shares of nCino by 182.0% in the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock worth $800,000 after purchasing an additional 16,416 shares during the period. Vanderbilt University lifted its position in shares of nCino by 192.3% during the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock worth $4,441,000 after purchasing an additional 92,481 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in nCino during the 3rd quarter valued at approximately $745,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in nCino by 63.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,599 shares of the company’s stock worth $5,452,000 after buying an additional 66,869 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NCNO has been the subject of several research reports. Macquarie reissued an “outperform” rating and issued a $40.00 price objective on shares of nCino in a research report on Wednesday, October 23rd. Stephens restated an “equal weight” rating and set a $35.00 price objective on shares of nCino in a report on Wednesday, August 28th. Needham & Company LLC reduced their target price on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. William Blair reissued an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price target on shares of nCino in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.25.

Insider Buying and Selling

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

nCino Stock Performance

nCino stock opened at $41.99 on Monday. The firm has a market capitalization of $4.85 billion, a P/E ratio of -155.52, a P/E/G ratio of 34.82 and a beta of 0.55. The stock has a fifty day moving average price of $36.90 and a two-hundred day moving average price of $33.37. nCino, Inc. has a 52-week low of $27.47 and a 52-week high of $43.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08.

nCino 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.