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

M&T Bank Corp cut its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 13.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 88,535 shares of the company’s stock after selling 13,765 shares during the period. M&T Bank Corp’s holdings in nCino were worth $2,978,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. First Bank & Trust grew its holdings in nCino by 4.1% in the fourth quarter. First Bank & Trust now owns 9,970 shares of the company’s stock valued at $335,000 after purchasing an additional 395 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of nCino by 9.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,047 shares of the company’s stock worth $439,000 after acquiring an additional 1,087 shares during the period. Swiss National Bank raised its position in shares of nCino by 1.3% in the 3rd quarter. Swiss National Bank now owns 111,000 shares of the company’s stock worth $3,530,000 after buying an additional 1,400 shares during the period. Precision Wealth Strategies LLC boosted its holdings in nCino by 15.8% in the third quarter. Precision Wealth Strategies LLC now owns 11,044 shares of the company’s stock valued at $351,000 after acquiring an additional 1,503 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in nCino by 22.5% during the fourth quarter. Victory Capital Management Inc. now owns 8,209 shares of the company’s stock worth $276,000 after acquiring an additional 1,508 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at nCino

In related news, insider April Rieger sold 27,513 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.09, for a total value of $992,944.17. Following the completion of the transaction, the insider now owns 128,075 shares in the company, valued at approximately $4,622,226.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director William J. Ruh sold 5,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $34.51, for a total transaction of $172,550.00. Following the transaction, the director now directly owns 251,201 shares of the company’s stock, valued at $8,668,946.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider April Rieger sold 27,513 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $36.09, for a total value of $992,944.17. Following the sale, the insider now owns 128,075 shares of the company’s stock, valued at $4,622,226.75. The disclosure for this sale can be found here. Insiders have sold 1,111,908 shares of company stock valued at $39,031,513 over the last three months. Company insiders own 38.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NCNO. Morgan Stanley raised their price target on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Keefe, Bruyette & Woods began coverage on nCino in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, March 27th. Needham & Company LLC upped their target price on shares of nCino from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $42.00 price target on shares of nCino in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.91.

nCino Stock Up 1.5 %

Shares of nCino stock opened at $31.34 on Wednesday. nCino, Inc. has a 1-year low of $21.32 and a 1-year high of $37.48. The company has a market capitalization of $3.58 billion, a P/E ratio of -82.47, a PEG ratio of 25.04 and a beta of 0.57. The business’s fifty day moving average price is $31.19 and its two-hundred day moving average price is $31.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.17.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. nCino had a negative net margin of 8.89% and a positive return on equity of 0.31%. The business had revenue of $123.69 million during the quarter, compared to the consensus estimate of $124.58 million. As a group, research analysts forecast that nCino, Inc. will post 0.05 EPS for the current year.

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.