ArrowMark Colorado Holdings LLC Sells 11,412 Shares of nCino, Inc. (NASDAQ:NCNO)

ArrowMark Colorado Holdings LLC decreased its position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,088,650 shares of the company's stock after selling 11,412 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 1.80% of nCino worth $70,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NCNO. Fifth Third Bancorp bought a new stake in shares of nCino during the fourth quarter worth about $34,000. Hilltop National Bank acquired a new position in nCino in the 4th quarter valued at approximately $37,000. Johnson Financial Group Inc. acquired a new position in nCino in the 4th quarter valued at approximately $57,000. Asset Management One Co. Ltd. raised its stake in shares of nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after acquiring an additional 323 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of nCino by 32.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock worth $152,000 after purchasing an additional 1,122 shares during the period. Institutional investors own 94.76% of the company's stock.

nCino Stock Up 3.0 %

NASDAQ:NCNO traded up $0.66 during trading hours on Wednesday, reaching $22.81. 2,034,643 shares of the company traded hands, compared to its average volume of 1,414,844. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The business's 50-day moving average price is $25.84 and its two-hundred day moving average price is $32.49. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20. The stock has a market capitalization of $2.63 billion, a P/E ratio of -134.15, a P/E/G ratio of 5.77 and a beta of 0.71.

nCino (NASDAQ:NCNO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. During the same period last year, the business earned $0.21 EPS. nCino's revenue was up 14.3% on a year-over-year basis. Analysts predict that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino declared that its Board of Directors has authorized a share buyback program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. UBS Group set a $40.00 target price on nCino in a research report on Friday, March 28th. Truist Financial lowered shares of nCino from a "buy" rating to a "hold" rating and decreased their price target for the company from $44.00 to $21.00 in a research note on Wednesday, April 2nd. William Blair lowered nCino from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Piper Sandler cut their target price on nCino from $28.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Finally, KeyCorp restated a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $30.40.

Insider Activity

In related news, CEO Sean Desmond sold 2,301 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total value of $51,335.31. Following the transaction, the chief executive officer now owns 296,296 shares of the company's stock, valued at approximately $6,610,363.76. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jeanette Sellers sold 2,501 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $21.51, for a total transaction of $53,796.51. Following the sale, the vice president now directly owns 19,099 shares of the company's stock, valued at approximately $410,819.49. This represents a 11.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 141,060 shares of company stock valued at $3,101,115 over the last three months. Insiders own 28.40% of the company's stock.

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.