M&T Bank Corp Sells 82,213 Shares of nCino Inc. $NCNO

M&T Bank Corp lessened its stake in shares of nCino Inc. (NASDAQ:NCNO – Free Report) by 83.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,876 shares of the company’s stock after selling 82,213 shares during the quarter. M&T Bank Corp’s holdings in nCino were worth $433,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NCNO. Farther Finance Advisors LLC boosted its position in shares of nCino by 186.4% in the third quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock valued at $26,000 after acquiring an additional 617 shares during the period. CWM LLC increased its holdings in nCino by 255.8% during the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after acquiring an additional 821 shares during the period. AlphaQuest LLC increased its holdings in nCino by 5,022.2% during the 3rd quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock worth $37,000 after acquiring an additional 1,356 shares during the period. Quarry LP lifted its stake in nCino by 138.2% in the 3rd quarter. Quarry LP now owns 1,701 shares of the company’s stock worth $46,000 after purchasing an additional 987 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in nCino by 105.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,915 shares of the company’s stock valued at $52,000 after purchasing an additional 982 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other nCino news, SVP Jeanette Sellers sold 1,873 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $17.55, for a total value of $32,871.15. Following the transaction, the senior vice president owned 40,611 shares in the company, valued at approximately $712,723.05. The trade was a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean Desmond sold 15,440 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.06, for a total transaction of $263,406.40. Following the transaction, the chief executive officer directly owned 589,428 shares of the company’s stock, valued at approximately $10,055,641.68. This trade represents a 2.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 123,554 shares of company stock worth $2,195,469. 5.70% of the stock is currently owned by insiders.

nCino Stock Performance

Shares of NCNO stock opened at $18.13 on Friday. The company has a market capitalization of $1.97 billion, a P/E ratio of 362.60, a PEG ratio of 8.12 and a beta of 0.72. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $33.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $16.45 and a two-hundred day moving average price of $21.29.

nCino (NASDAQ:NCNO – Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.16. nCino had a net margin of 0.87% and a return on equity of 4.75%. The firm had revenue of $149.67 million for the quarter, compared to analysts’ expectations of $147.41 million. During the same quarter last year, the business earned $0.12 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. Analysts expect that nCino Inc. will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NCNO shares. Robert W. Baird reduced their price target on shares of nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Citizens Jmp dropped their price objective on nCino from $41.00 to $32.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 1st. Piper Sandler upgraded nCino from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $30.00 to $22.00 in a research report on Wednesday, April 1st. The Goldman Sachs Group decreased their target price on nCino from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Finally, Barclays raised their price target on nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.07.

Read Our Latest Research Report on nCino

nCino Profile

(Free Report)

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.

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