Ncino Inc. sees $13.6 million stock sale by Insight Holdings

Insight Holdings Group, LLC, a significant shareholder of nCino Inc. (NASDAQ:NCNO), disclosed a series of stock sales totaling $13.6 million, according to a recent SEC filing. The transactions, which took place on October 18, involved the sale of 293,988 shares of common stock at a weighted average price of $36.6234 per share.

The shares were sold in multiple transactions at prices ranging from $36.50 to $36.65. Following these sales, the reporting entities, including Insight SN Holdings, LLC and Insight Venture Partners, continue to hold substantial positions in nCino. The sales were executed under a pre-established trading plan adopted earlier this year.

Insight Holdings, a notable investor in the software company, remains a significant stakeholder, with various entities under its umbrella maintaining large shareholdings in nCino. The transactions were part of a planned divestment strategy and reflect ongoing portfolio management activities by the investment firm.

In other recent news, nCino Inc. has made notable strides in its operations. The company reported robust financial results for the second quarter of fiscal year 2025, with total revenues reaching $132.4 million, subscription revenues of $113.9 million, and non-GAAP operating income hitting $19.3 million. Truist Securities has increased its stock price target for nCino from $37.00 to $44.00, maintaining a Buy rating based on the potential of the company's AI-powered Banking Advisor.

The firm's confidence in nCino's revenue stabilization and growth reacceleration has been bolstered by the demonstration of current generative AI solutions and the future AI innovation roadmap. In partnership with Tokushima Taisho Bank, nCino integrated its Commercial Banking Solution into its business lending services, aiming to enhance operational efficiency and customer service.

The Delaware Supreme Court affirmed the dismissal of a stockholder lawsuit related to the company's mergers with nCino OpCo and SimpleNexus, ending the litigation. Finally, analyst firms Raymond James, Macquarie, Piper Sandler, and Keefe, Bruyette & Woods have given positive ratings on nCino's shares, reflecting confidence in the company's financial prospects and strategic market positioning. These are the recent developments surrounding nCino Inc.

InvestingPro Insights

To provide additional context to Insight Holdings Group's recent stock sales of nCino Inc. (NASDAQ:NCNO), let's examine some key financial metrics and insights from InvestingPro.

nCino's market capitalization stands at $4.3 billion, reflecting its significant presence in the software industry. The company has shown strong revenue growth, with a 13.64% increase over the last twelve months, reaching $506.12 million. This growth trend aligns with the company's expanding market footprint and could explain why major shareholders like Insight Holdings Group maintain substantial positions despite recent sales.

InvestingPro Tips highlight that nCino is trading near its 52-week high, with a strong return of 22.24% over the last month. This recent price performance may have influenced Insight Holdings' decision to sell some shares, potentially capitalizing on the stock's upward momentum.

It's worth noting that while nCino has shown revenue growth, it is not currently profitable over the last twelve months. However, an InvestingPro Tip suggests that analysts predict the company will be profitable this year, which could be a positive signal for investors.

For readers interested in a deeper analysis, InvestingPro offers 12 additional tips for nCino, providing a more comprehensive view of the company's financial health and market position.

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