nCino, Inc. (NASDAQ:NCNO) Position Increased by M&T Bank Corp

M&T Bank Corp grew its position in nCino, Inc. (NASDAQ:NCNO) by 0.9% in the 3rd quarter, according to the company in 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 quarter. M&T Bank Corp’s holdings in nCino were worth $3,224,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NCNO. Crewe Advisors LLC purchased a new position in shares of nCino during the second quarter valued at $26,000. Asset Management One Co. Ltd. boosted its position 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 period. Benjamin F. Edwards & Company Inc. grew 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 in the last quarter. West Tower Group LLC acquired a new position in shares of nCino in the 3rd quarter valued at about $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of nCino in the 3rd quarter valued at about $152,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at nCino

In related news, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the completion of 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 represents a 1.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Desmond sold 30,000 shares of nCino stock in a transaction on Monday, October 14th. The stock was sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the transaction, the insider now owns 341,511 shares in the company, valued at $11,874,337.47. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,852,703 shares of company stock worth $177,212,673 over the last 90 days. Insiders own 28.40% of the company’s stock.

nCino Stock Down 3.0 %

Shares of NCNO stock opened at $35.46 on Friday. The stock’s 50 day simple moving average is $38.36 and its 200 day simple moving average is $33.82. nCino, Inc. has a twelve month low of $28.09 and a twelve month high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -208.59, a PEG ratio of 16.82 and a beta of 0.59.

Analyst Upgrades and Downgrades

NCNO has been the subject of several research reports. Piper Sandler restated a “neutral” rating and set a $38.00 price target on shares of nCino in a report on Thursday, December 5th. Barclays boosted their price target on shares of nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, November 25th. Macquarie increased their price objective on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Stephens boosted their target price on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $44.00 target price (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.38.

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.