Kings Path Partners LLC Makes New Investment in nCino, Inc. (NASDAQ:NCNO)

Kings Path Partners LLC bought a new stake in shares of nCino, Inc. (NASDAQ:NCNO) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 9,995 shares of the company’s stock, valued at approximately $336,000.

A number of other institutional investors have also recently made changes to their positions in NCNO. Kayne Anderson Rudnick Investment Management LLC increased its stake in nCino by 8.9% during 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 acquiring an additional 635,064 shares during the last quarter. Long Path Partners LP raised its holdings in nCino by 43.7% during 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 period. ShawSpring Partners LLC lifted its position in nCino by 115.9% in the third 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 stake in nCino by 65.1% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after buying an additional 828,124 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in nCino by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock valued at $65,261,000 after acquiring an additional 736,627 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Stock Up 2.1 %

Shares of NCNO traded up $0.71 during mid-day trading on Monday, hitting $34.78. The company’s stock had a trading volume of 441,644 shares, compared to its average volume of 598,437. 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 company’s 50-day moving average is $38.19 and its 200-day moving average is $34.29. nCino, Inc. has a 52-week low of $28.09 and a 52-week high of $43.20. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of -204.58, a PEG ratio of 16.39 and a beta of 0.64.

Analysts Set New Price Targets

NCNO has been the subject of several analyst reports. Barclays upgraded shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 target price for the company in a report on Monday. Macquarie boosted their target price on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Stephens increased their price target on nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods upped their price objective on nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, William Blair reiterated an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Buying and Selling

In other news, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the transaction, the chief financial officer now directly owns 276,892 shares in the company, valued at approximately $9,705,064.60. This trade represents a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William J. Ruh sold 10,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the sale, the director now owns 226,201 shares of the company’s stock, valued at $8,482,537.50. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,418,237 shares of company stock valued at $340,474,175 over the last 90 days. Corporate insiders own 28.40% of the company’s stock.

nCino Company 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.