Kings Path Partners LLC Acquires New Shares in nCino, Inc. (NASDAQ:NCNO)

Kings Path Partners LLC bought a new position in nCino, Inc. (NASDAQ:NCNO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,995 shares of the company’s stock, valued at approximately $336,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Management One Co. Ltd. raised its holdings in shares of nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after purchasing an additional 341 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after buying an additional 1,358 shares during the last quarter. West Tower Group LLC bought a new position in shares of nCino during the 3rd quarter valued at $126,000. Northwest & Ethical Investments L.P. purchased a new position in shares of nCino in the 3rd quarter worth $152,000. Finally, Amalgamated Bank grew its holdings in shares of nCino by 28.1% in the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after acquiring an additional 1,134 shares during the period. Institutional investors own 94.76% of the company’s stock.

nCino Price Performance

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

Analyst Ratings Changes

Several research analysts have issued reports on NCNO shares. Scotiabank raised their target price on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Piper Sandler reissued a “neutral” rating and issued a $38.00 price objective on shares of nCino in a report on Thursday, December 5th. Morgan Stanley cut their target price on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. UBS Group initiated coverage on shares of nCino in a research note on Monday, December 16th. They set a “buy” rating and a $44.00 price target on the stock. Finally, Robert W. Baird reduced their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.50.

Insider Buying and Selling at nCino

In other news, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $35.05, for a total transaction of $136,169.25. Following the completion of the transaction, the chief financial officer now owns 276,892 shares in the company, valued at $9,705,064.60. This trade represents a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeff Horing sold 4,474,158 shares of nCino stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $35.75, for a total value of $159,951,148.50. Following the completion of the sale, the director now directly owns 4,513,467 shares in the company, valued at $161,356,445.25. This trade represents a 49.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,418,237 shares of company stock valued at $340,474,175 in the last three months. 28.40% of the stock is currently owned by corporate insiders.

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.