Cinctive Capital Management LP Acquires New Holdings in nCino, Inc. (NASDAQ:NCNO)

Cinctive Capital Management LP bought a new stake in nCino, Inc. (NASDAQ:NCNO) during the 3rd quarter, Holdings Channel.com reports. The fund bought 41,804 shares of the company’s stock, valued at approximately $1,321,000.

A number of other large investors have also added to or reduced their stakes in NCNO. Asset Management One Co. Ltd. grew its position in shares of nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after buying an additional 341 shares during the last quarter. Malaga Cove Capital LLC grew its holdings in nCino by 3.0% in the third quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock worth $430,000 after purchasing an additional 400 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of nCino by 3.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock valued at $459,000 after purchasing an additional 508 shares during the last quarter. Precision Wealth Strategies LLC boosted its position in shares of nCino by 4.5% in the 3rd quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock worth $428,000 after purchasing an additional 589 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of nCino in the 2nd quarter worth $26,000. 94.76% of the stock is currently owned by institutional investors.

Insider Activity at nCino

In other nCino news, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the transaction, the insider now owns 341,511 shares in the company, valued at approximately $11,874,337.47. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total value of $136,169.25. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NCNO has been the subject of a number of research analyst reports. Truist Financial reiterated a “buy” rating and issued a $44.00 price target (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Stephens reiterated an “equal weight” rating and issued a $35.00 target price on shares of nCino in a research note on Wednesday, August 28th. Barclays boosted their target price on shares of nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, November 25th. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Tuesday, September 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $38.00 price objective on shares of nCino in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.83.

nCino Price Performance

Shares of NCNO opened at $41.50 on Wednesday. The business’s 50-day moving average is $37.12 and its two-hundred day moving average is $33.44. The company has a market capitalization of $4.80 billion, a P/E ratio of -153.70, a P/E/G ratio of 34.46 and a beta of 0.59. nCino, Inc. has a fifty-two week low of $28.00 and a fifty-two week high of $43.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

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.