Connor Clark & Lunn Investment Management Ltd. Has $3.35 Million Holdings in nCino, Inc. (NASDAQ:NCNO)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in nCino, Inc. (NASDAQ:NCNO) by 42.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,748 shares of the company’s stock after selling 72,851 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of nCino worth $3,350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp bought a new stake in shares of nCino in the 4th quarter valued at about $34,000. Hilltop National Bank bought a new stake in nCino in the fourth quarter valued at approximately $37,000. Asset Management One Co. Ltd. raised its holdings in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after purchasing an additional 323 shares during the period. West Tower Group LLC bought a new position in shares of nCino during the third quarter worth $126,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of nCino in the 3rd quarter valued at $152,000. Institutional investors own 94.76% of the company’s stock.

Insider Activity

In other news, insider April Rieger sold 4,325 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the sale, the insider now directly owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. This represents a 2.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff Horing sold 4,474,158 shares of nCino stock in a transaction dated 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 transaction, the director now owns 4,513,467 shares of the company’s stock, valued at $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 90 days, insiders sold 4,561,035 shares of company stock valued at $162,915,041. 28.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stephens boosted their target price on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Robert W. Baird cut their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. UBS Group assumed coverage on nCino in a research note on Monday, December 16th. They set a “buy” rating and a $44.00 target price for the company. Macquarie lifted their price target on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC increased their price objective on shares of nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.50.

nCino Stock Up 1.2 %

NCNO stock opened at $28.69 on Tuesday. The company has a market cap of $3.32 billion, a price-to-earnings ratio of -168.75, a P/E/G ratio of 5.77 and a beta of 0.66. nCino, Inc. has a twelve month low of $27.29 and a twelve month high of $43.20. The business has a 50 day moving average price of $32.18 and a two-hundred day moving average price of $34.27. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

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.