Connor Clark & Lunn Investment Management Ltd. Sells 72,851 Shares of nCino, Inc. (NASDAQ:NCNO)

Connor Clark & Lunn Investment Management Ltd. cut its stake in nCino, Inc. (NASDAQ:NCNO) by 42.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 99,748 shares of the company’s stock after selling 72,851 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in nCino were worth $3,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in nCino by 15.0% during the 3rd quarter. Victory Capital Management Inc. now owns 11,784 shares of the company’s stock worth $372,000 after purchasing an additional 1,536 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of nCino by 5.9% during the third quarter. Natixis Advisors LLC now owns 14,711 shares of the company’s stock worth $465,000 after buying an additional 822 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of nCino in the third quarter valued at about $689,000. Quest Partners LLC grew its stake in shares of nCino by 30.4% in the third quarter. Quest Partners LLC now owns 25,231 shares of the company’s stock valued at $797,000 after acquiring an additional 5,879 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in nCino during the third quarter worth about $6,288,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling at nCino

In other news, Director Jeff Horing sold 4,474,158 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $35.75, for a total value of $159,951,148.50. Following the completion of the transaction, the director now directly owns 4,513,467 shares in the company, valued at approximately $161,356,445.25. This represents a 49.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider April Rieger sold 4,325 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $140,995.00. Following the sale, the insider now owns 145,953 shares in the company, valued at $4,758,067.80. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,561,035 shares of company stock worth $162,915,041 over the last quarter. Corporate insiders own 28.40% of the company’s stock.

nCino Trading Up 1.2 %

Shares of nCino stock opened at $28.69 on Tuesday. The firm’s 50 day moving average is $32.18 and its 200 day moving average is $34.27. The firm has a market capitalization of $3.32 billion, a PE ratio of -168.75, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. nCino, Inc. has a 1 year low of $27.29 and a 1 year high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NCNO shares. Macquarie increased their target price on shares of nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Robert W. Baird reduced their price target on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Stephens raised their price objective on nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Morgan Stanley cut their target price on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Finally, William Blair restated an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, nCino presently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

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.