nCino Inc. $NCNO Shares Acquired by Long Path Partners LP

Long Path Partners LP lifted its position in nCino Inc. (NASDAQ:NCNO) by 61.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,787,869 shares of the company’s stock after purchasing an additional 1,815,868 shares during the quarter. nCino comprises about 45.5% of Long Path Partners LP’s holdings, making the stock its biggest holding. Long Path Partners LP owned approximately 4.13% of nCino worth $133,917,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. increased its holdings in shares of nCino by 7.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 520,000 shares of the company’s stock worth $14,544,000 after buying an additional 35,000 shares during the last quarter. Nicholas Company Inc. grew its position in nCino by 11.5% in the second quarter. Nicholas Company Inc. now owns 254,783 shares of the company’s stock worth $7,126,000 after acquiring an additional 26,243 shares during the period. Select Equity Group L.P. increased its stake in nCino by 395.3% during the first quarter. Select Equity Group L.P. now owns 265,211 shares of the company’s stock worth $7,285,000 after acquiring an additional 211,665 shares during the last quarter. Pier Capital LLC purchased a new stake in nCino in the second quarter valued at $8,104,000. Finally, Advantage Alpha Capital Partners LP lifted its stake in shares of nCino by 79.7% in the 2nd quarter. Advantage Alpha Capital Partners LP now owns 196,734 shares of the company’s stock valued at $5,503,000 after purchasing an additional 87,274 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NCNO. Piper Sandler raised their price objective on nCino from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. Barclays lifted their price target on shares of nCino from $31.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, August 27th. Citigroup restated an “outperform” rating on shares of nCino in a report on Wednesday, August 27th. JMP Securities lifted their target price on shares of nCino from $35.00 to $41.00 and gave the company a “market outperform” rating in a report on Wednesday, August 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of nCino in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and an average price target of $33.94.

Insider Activity

In related news, CFO Gregory Orenstein sold 4,353 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $25.81, for a total value of $112,350.93. Following the sale, the chief financial officer owned 461,746 shares of the company’s stock, valued at $11,917,664.26. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff Horing sold 3,889,254 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $30.00, for a total transaction of $116,677,620.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,940,562 shares of company stock worth $118,143,440 over the last three months. Company insiders own 5.70% of the company’s stock.

nCino Price Performance

Shares of NCNO opened at $24.52 on Tuesday. The company has a market cap of $2.84 billion, a P/E ratio of -84.55, a PEG ratio of 15.56 and a beta of 0.53. nCino Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $42.88. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average price is $25.74 and its 200 day moving average price is $27.48.

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.