nCino, Inc. (NASDAQ:NCNO) Shares Bought by M&T Bank Corp

M&T Bank Corp lifted its stake in nCino, Inc. (NASDAQ:NCNO) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,070 shares of the company’s stock after buying an additional 920 shares during the period. M&T Bank Corp owned approximately 0.09% of nCino worth $3,224,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Crewe Advisors LLC purchased a new stake in nCino during the 2nd quarter worth approximately $26,000. Asset Management One Co. Ltd. increased its stake in shares of nCino by 21.1% in 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 during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after acquiring an additional 1,358 shares during the last quarter. West Tower Group LLC bought a new position in nCino during the 3rd quarter valued at $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in nCino during the 3rd quarter worth $152,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Trading Down 3.0 %

NASDAQ:NCNO opened at $35.46 on Friday. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of -208.59, a PEG ratio of 16.82 and a beta of 0.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino, Inc. has a 1 year low of $28.09 and a 1 year high of $43.20. The business has a fifty day moving average of $38.36 and a 200-day moving average of $33.82.

Insider Activity at nCino

In other news, insider Sean Desmond sold 30,000 shares of the stock in a transaction that occurred on 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 directly owns 341,511 shares in the company, valued at $11,874,337.47. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeff Horing sold 1,167,424 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $36.69, for a total value of $42,832,786.56. Following the sale, the director now directly owns 9,790,001 shares in the company, valued at approximately $359,195,136.69. The trade was a 10.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,852,703 shares of company stock worth $177,212,673 in the last 90 days. Corporate insiders own 28.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on NCNO. Piper Sandler reiterated a “neutral” rating and issued a $38.00 price target on shares of nCino in a research note on Thursday, December 5th. Macquarie boosted their price target on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Barclays raised their price objective on nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, November 25th. JMP Securities reissued a “market outperform” rating and set a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.38.

nCino 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.