Northwest & Ethical Investments L.P. Invests $152,000 in nCino, Inc. (NASDAQ:NCNO)

Northwest & Ethical Investments L.P. purchased a new position in nCino, Inc. (NASDAQ:NCNO) in the 3rd quarter, HoldingsChannel reports. The fund purchased 4,800 shares of the company’s stock, valued at approximately $152,000.

Several other institutional investors also recently bought and sold shares of the company. Long Path Partners LP grew its holdings in shares of nCino by 151.1% during the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock valued at $81,460,000 after buying an additional 1,558,529 shares during the last quarter. ShawSpring Partners LLC lifted its holdings in shares of nCino by 115.9% during the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after purchasing an additional 1,424,349 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in nCino in the 2nd quarter worth about $41,805,000. Senator Investment Group LP bought a new stake in shares of nCino in the second quarter worth approximately $40,885,000. Finally, Millennium Management LLC raised its stake in nCino by 438.3% during the 2nd quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock valued at $45,673,000 after buying an additional 1,182,452 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Price Performance

NASDAQ NCNO opened at $41.99 on Friday. nCino, Inc. has a 12-month low of $27.47 and a 12-month high of $43.20. The firm’s fifty day simple moving average is $36.90 and its two-hundred day simple moving average is $33.35. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $4.85 billion, a P/E ratio of -155.51, a P/E/G ratio of 34.73 and a beta of 0.55.

Insider Activity at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Desmond sold 30,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the transaction, the insider now directly owns 341,511 shares in the company, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,235,029 shares of company stock valued at $117,599,204 in the last ninety days. Corporate insiders own 28.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Macquarie restated an “outperform” rating and set a $40.00 price target on shares of nCino in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $42.00 in a report on Wednesday, August 14th. JMP Securities restated a “market outperform” rating and set a $43.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Piper Sandler reissued an “overweight” rating and set a $38.00 price target on shares of nCino in a report on Wednesday, August 28th. Finally, Barclays boosted their price target on nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, November 25th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

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.