nCino, Inc. (NASDAQ:NCNO) Shares Purchased by Long Path Partners LP

Long Path Partners LP raised its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 43.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,721,406 shares of the company’s stock after buying an additional 1,131,271 shares during the quarter. nCino comprises about 38.1% of Long Path Partners LP’s investment portfolio, making the stock its biggest position. Long Path Partners LP’s holdings in nCino were worth $117,559,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in shares of nCino during the second quarter worth about $26,000. Asset Management One Co. Ltd. boosted its position in nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after acquiring an additional 1,358 shares during the period. Amalgamated Bank raised its holdings in nCino by 28.1% in the 2nd quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock valued at $163,000 after acquiring an additional 1,134 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of nCino by 145.6% during the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after purchasing an additional 2,677 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insiders Place Their Bets

In other nCino news, Director William J. Ruh sold 10,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $37.50, for a total value of $375,000.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total transaction 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. The trade was a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,235,582 shares of company stock worth $117,618,559 over the last quarter. 28.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Needham & Company LLC lowered their price target on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of nCino in a research note on Wednesday, August 28th. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research report on Wednesday, August 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $44.00 price target (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.82.

nCino Trading Up 2.4 %

Shares of NCNO stock opened at $41.42 on Friday. nCino, Inc. has a fifty-two week low of $27.47 and a fifty-two week high of $43.20. The firm’s 50 day moving average price is $35.70 and its two-hundred day moving average price is $32.98. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of -153.40, a price-to-earnings-growth ratio of 33.54 and a beta of 0.55. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. During the same quarter in the previous year, the business posted ($0.02) EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. On average, analysts anticipate that nCino, Inc. will post 0.05 EPS for the current year.

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.