Barclays PLC Raises Holdings in nCino, Inc. (NASDAQ:NCNO)

Barclays PLC increased its position in shares of nCino, Inc. (NASDAQ:NCNO) by 22.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,014 shares of the company’s stock after buying an additional 13,252 shares during the period. Barclays PLC owned about 0.06% of nCino worth $2,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NCNO. Kayne Anderson Rudnick Investment Management LLC grew its holdings in nCino by 8.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock worth $244,766,000 after purchasing an additional 635,064 shares during the last quarter. Long Path Partners LP boosted its position in shares of nCino by 43.7% in the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after purchasing an additional 1,131,271 shares in the last quarter. ShawSpring Partners LLC grew its stake in nCino by 115.9% during the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after buying an additional 1,424,349 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in nCino by 65.1% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after acquiring an additional 828,124 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of nCino by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock worth $65,261,000 after acquiring an additional 736,627 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

nCino Price Performance

Shares of NCNO opened at $35.27 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino, Inc. has a fifty-two week low of $28.09 and a fifty-two week high of $43.20. The firm has a 50-day simple moving average of $38.64 and a 200-day simple moving average of $34.13. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -207.46, a price-to-earnings-growth ratio of 16.39 and a beta of 0.59.

Insiders Place Their Bets

In other news, insider Sean Desmond sold 30,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the transaction, the insider now directly owns 341,511 shares in the company, valued at $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeff Horing sold 4,474,158 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $35.75, for a total transaction of $159,951,148.50. Following the completion of the sale, the director now owns 4,513,467 shares of the company’s stock, valued at approximately $161,356,445.25. The trade was a 49.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,418,237 shares of company stock valued at $340,474,175. 28.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Scotiabank raised their target price on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC upped their target price on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. William Blair reissued an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. UBS Group began coverage on shares of nCino in a report on Monday, December 16th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, Stephens raised their target price on shares of nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.50.

About nCino

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.