Drive Wealth Management LLC Has $1.19 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Drive Wealth Management LLC decreased its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 72.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,509 shares of the company’s stock after selling 93,447 shares during the period. Drive Wealth Management LLC’s holdings in nCino were worth $1,192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ShawSpring Partners LLC grew its holdings in shares of nCino by 115.9% in the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after buying an additional 1,424,349 shares during the period. Senator Investment Group LP bought a new stake in shares of nCino in the 2nd quarter valued at about $40,885,000. Millennium Management LLC raised its holdings in shares of nCino by 438.3% in the 2nd quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock valued at $45,673,000 after purchasing an additional 1,182,452 shares during the period. Long Path Partners LP grew its stake in nCino by 43.7% in the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after buying an additional 1,131,271 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its stake in nCino by 65.1% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock valued at $66,341,000 after buying an additional 828,124 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Stock Up 0.2 %

NCNO stock opened at $32.57 on Monday. The firm has a 50-day simple moving average of $36.19 and a two-hundred day simple moving average of $34.47. nCino, Inc. has a one year low of $28.09 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95.

Analysts Set New Price Targets

Several research firms recently issued reports on NCNO. Robert W. Baird reduced their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Stephens increased their price objective on shares of nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Barclays upgraded shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research report on Monday, January 6th. William Blair restated an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Four equities research 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, nCino currently has an average rating of “Moderate Buy” and an average price target of $42.50.

Insider Activity

In other news, Director Jeff Horing sold 1,167,424 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $36.69, for a total transaction of $42,832,786.56. Following the transaction, the director now owns 9,790,001 shares in the company, valued at $359,195,136.69. This trade represents a 10.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 6,238,084 shares of company stock worth $224,795,630 over the last 90 days. 28.40% of the stock is currently owned by corporate insiders.

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.