M&T Bank Corp Has $3.01 Million Stake in nCino, Inc. (NASDAQ:NCNO)

M&T Bank Corp trimmed its position in shares of nCino, Inc. (NASDAQ:NCNO) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,637 shares of the company’s stock after selling 12,433 shares during the period. M&T Bank Corp’s holdings in nCino were worth $3,010,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NCNO. Asset Management One Co. Ltd. grew its stake 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 buying an additional 341 shares in the last quarter. Victory Capital Management Inc. grew its stake in nCino by 15.0% during the third quarter. Victory Capital Management Inc. now owns 11,784 shares of the company’s stock worth $372,000 after buying an additional 1,536 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of nCino by 5.9% in the 3rd quarter. Natixis Advisors LLC now owns 14,711 shares of the company’s stock valued at $465,000 after purchasing an additional 822 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of nCino in the 3rd quarter valued at approximately $689,000. Finally, Quest Partners LLC boosted its stake in shares of nCino by 30.4% in the 3rd quarter. Quest Partners LLC now owns 25,231 shares of the company’s stock valued at $797,000 after purchasing an additional 5,879 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other nCino news, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the transaction, the insider now owns 145,953 shares in the company, valued at approximately $4,758,067.80. This trade represents a 2.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeff Horing sold 450,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $37.27, for a total transaction of $16,771,500.00. Following the transaction, the director now owns 12,063,467 shares of the company’s stock, valued at approximately $449,605,415.09. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,270,085 shares of company stock worth $225,838,863. 28.40% of the stock is currently owned by insiders.

nCino Stock Up 2.0 %

Shares of NASDAQ NCNO opened at $30.53 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino, Inc. has a 1 year low of $28.50 and a 1 year high of $43.20. The company has a 50 day simple moving average of $32.81 and a 200 day simple moving average of $34.46. The firm has a market cap of $3.54 billion, a PE ratio of -179.58, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. Needham & Company LLC raised their price target on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. KeyCorp restated a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Scotiabank raised their price target on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Macquarie raised their price target on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, nCino has an average rating of “Moderate Buy” and an average price target of $42.50.

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.