nCino, Inc. (NASDAQ:NCNO) Stock Position Lessened by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 15.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 469,241 shares of the company's stock after selling 83,842 shares during the quarter. Janus Henderson Group PLC owned 0.41% of nCino worth $14,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of NCNO. Kayne Anderson Rudnick Investment Management LLC lifted its position in nCino by 8.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company's stock worth $244,766,000 after acquiring an additional 635,064 shares in the last quarter. Long Path Partners LP lifted its position in shares of nCino by 43.7% during the third 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 boosted its stake in shares of nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company's stock valued at $83,830,000 after purchasing an additional 1,424,349 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in nCino by 65.1% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company's stock valued at $66,341,000 after purchasing an additional 828,124 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in nCino by 55.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company's stock worth $65,261,000 after buying an additional 736,627 shares during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NCNO shares. Macquarie raised their target price on nCino from $40.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday. Piper Sandler restated a "neutral" rating and set a $38.00 price objective on shares of nCino in a research note on Thursday. 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. Robert W. Baird reduced their target price on nCino from $43.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Barclays lifted their price target on shares of nCino from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.38.

nCino Stock Performance

Shares of NASDAQ NCNO traded up $0.13 during midday trading on Friday, hitting $37.41. The company's stock had a trading volume of 1,769,303 shares, compared to its average volume of 925,234. The firm has a market cap of $4.32 billion, a P/E ratio of -220.05, a P/E/G ratio of 35.24 and a beta of 0.59. nCino, Inc. has a 1-year low of $28.09 and a 1-year high of $43.20. The firm's fifty day moving average price is $37.84 and its 200-day moving average price is $33.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

Insiders Place Their Bets

In other news, Director William J. Ruh sold 10,000 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the transaction, the director now owns 226,201 shares in the company, valued at approximately $8,482,537.50. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Desmond sold 30,000 shares of nCino 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 completion of the sale, the insider now owns 341,511 shares in the company, valued at approximately $11,874,337.47. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,235,029 shares of company stock valued at $117,599,204 over the last quarter. Insiders own 28.40% of the company's stock.

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.