Key Points New York City-based Insight Holdings Group sold nearly 4.5 million shares of nCino in the third quarter. The move marked an exit from nCino, leading the position to fall by an estimated $124.7 million from quarter to quarter. The position was previously 5.2% of the fund's AUM as of the prior quarter. These 10 stocks could mint the next wave of millionaires › On November 14, New York City-based Insight Holdings Group disclosed a full exit from nCino (NASDAQ:NCNO), selling nearly 4.5 mi ...

Key Points New York City-based Senvest Management increased its stake in nCino by nearly 2.4 million shares during the third quarter. The overall position value grew by $63.8 million from quarter to quarter. Following the transaction, Senvest reported holding over 2.4 million nCino shares valued at about $65.6 million. These 10 stocks could mint the next wave of millionaires › New York City-based Senvest Management disclosed a significant purchase of nCino (NASDAQ:NCNO) stock on November 14, addi ...

Core Insights - Tensile Capital Management reduced its stake in nCino by 449,165 shares, resulting in a decrease of $13.3 million in position value during the third quarter [2][3][7] - Following the sale, nCino now represents approximately 3.1% of Tensile Capital Management's reportable AUM, moving it outside the fund's top five holdings [4][7] - nCino's stock price has declined 37% over the past year, contrasting with a 13% increase in the S&P 500 during the same period [4] Company Overview - nCino has a market capitalization of $2.7 billion and generated revenue of $586.5 million over the trailing twelve months (TTM) [5] - The company reported a net income loss of $21.8 million for the TTM [5] - As of the latest market close, nCino's share price was $23.39 [5] Recent Performance - nCino achieved a 10% revenue growth to $152.2 million in the latest quarter, with an 11% increase in subscription revenue [12] - The company reported a GAAP operating income of $11.7 million, a significant improvement from a loss in the previous year [12] - Non-GAAP operating income rose 43% to $39.9 million, indicating effective cost management and improved unit economics [12] Strategic Positioning - nCino provides cloud-based software solutions aimed at digitizing and automating banking operations for financial institutions [9][10] - The company serves a diverse clientele, including global and regional banks, credit unions, and mortgage banks [10] - nCino's SaaS platform leverages advanced analytics and AI to enhance banking workflows and compliance processes, positioning it as a key technology partner for banks undergoing digital transformation [10] Market Context - The reduction in Tensile Capital Management's stake reflects a broader reassessment of high-growth fintech companies amid fluctuating share performance and strengthening fundamentals [11] - Despite nCino's strong operational performance, the stock has faced significant declines, raising questions about the sustainability of its profitability and AI advancements in the face of near-term multiple compression [12]