Kinetic Partners Management LP Acquires 330,000 Shares of nCino Inc. $NCNO

Kinetic Partners Management LP boosted its holdings in nCino Inc. (NASDAQ:NCNO) by 89.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 699,000 shares of the company’s stock after purchasing an additional 330,000 shares during the quarter. nCino comprises 0.9% of Kinetic Partners Management LP’s portfolio, making the stock its 29th largest position. Kinetic Partners Management LP owned approximately 0.60% of nCino worth $18,950,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its stake in nCino by 68.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock valued at $32,000 after acquiring an additional 458 shares during the period. US Bancorp DE increased its stake in shares of nCino by 1.6% in the 3rd quarter. US Bancorp DE now owns 32,042 shares of the company’s stock worth $869,000 after purchasing an additional 501 shares in the last quarter. Farther Finance Advisors LLC increased its position in nCino by 186.4% in the third quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock worth $26,000 after buying an additional 617 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in nCino by 5.8% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 15,980 shares of the company’s stock worth $433,000 after acquiring an additional 872 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of nCino by 105.3% during the 3rd quarter. Fifth Third Bancorp now owns 1,915 shares of the company’s stock valued at $52,000 after purchasing an additional 982 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

NCNO has been the topic of a number of research reports. Barclays reduced their price target on shares of nCino from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. UBS Group reaffirmed a “buy” rating and set a $36.00 price objective on shares of nCino in a research note on Tuesday, December 9th. Zacks Research downgraded nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods upped their target price on shares of nCino from $34.50 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Finally, Truist Financial decreased their price objective on nCino from $32.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.33.

nCino Stock Up 1.0%

Shares of NCNO stock opened at $15.22 on Tuesday. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $33.92. The firm has a market capitalization of $1.75 billion, a PE ratio of -84.56, a P/E/G ratio of 2.97 and a beta of 0.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $19.46 and its 200-day simple moving average is $24.03.

nCino announced that its board has approved a stock repurchase plan on Monday, December 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Gregory Orenstein sold 10,562 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total value of $197,298.16. Following the sale, the chief financial officer directly owned 451,184 shares of the company’s stock, valued at $8,428,117.12. This represents a 2.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pierre Naude sold 24,273 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total transaction of $453,419.64. Following the completion of the sale, the director owned 1,166,823 shares in the company, valued at $21,796,253.64. The trade was a 2.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 71,310 shares of company stock worth $1,382,650 in the last quarter. 5.70% of the stock is currently owned by corporate insiders.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.