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

M&T Bank Corp lessened its stake in nCino, Inc. (NASDAQ:NCNO) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,637 shares of the company’s stock after selling 12,433 shares during the quarter. M&T Bank Corp owned about 0.08% of nCino worth $3,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp acquired a new stake in shares of nCino during the 4th quarter worth approximately $34,000. Hilltop National Bank bought a new position in nCino during the 4th quarter worth approximately $37,000. Asset Management One Co. Ltd. boosted its stake in nCino by 21.1% during the 3rd 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. West Tower Group LLC bought a new position in nCino during the 3rd quarter worth approximately $126,000. Finally, Northwest & Ethical Investments L.P. bought a new position in nCino during the 3rd quarter worth approximately $152,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity

In related news, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the transaction, the insider now directly owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. This trade represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean Desmond sold 5,034 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40. Following the transaction, the chief executive officer now directly owns 306,477 shares in the company, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,270,085 shares of company stock valued at $225,838,863 over the last ninety days. 28.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NCNO shares. Morgan Stanley reduced their price objective 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. Macquarie lifted 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. Stephens lifted their price target on shares of nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Finally, Needham & Company LLC lifted 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. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.50.

nCino Price Performance

Shares of NCNO opened at $30.53 on Friday. The firm has a market capitalization of $3.54 billion, a PE ratio of -179.58, a PEG ratio of 5.77 and a beta of 0.66. The company’s 50-day moving average is $32.81 and its 200-day moving average is $34.46. nCino, Inc. has a fifty-two week low of $28.50 and a fifty-two week high of $43.20. 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 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.