In a recent transaction, nCino, Inc. (NASDAQ:NCNO) Director Jeffrey Horing has sold a significant amount of the company's stock. The sale, which took place on April 1, 2024, involved 5,100,000 shares at a price of $35.20 per share, totaling over $179 million. This transaction has caught the attention of investors, as it represents a substantial change in the director's holdings in the company.
Jeffrey Horing, who is also recognized as a major shareholder, continues to hold a considerable number of shares after the sale. According to the report, his remaining ownership includes 34,023,014 shares of nCino's common stock. It's important to note that the ownership is indicated as indirect, with further details provided in the footnotes of the filing.
The footnotes reveal that the shares are held through various entities affiliated with Insight Partners, a private equity firm where Horing is a managing director. These entities include several Insight Venture Partners funds and holdings companies, all of which are part of the complex ownership structure behind the reported shares.
Additionally, the report mentions holdings in non-derivative securities, including 19,104 shares and 57,313 shares in separate accounts, also indirectly owned by Horing. These holdings further demonstrate the director's continued investment in nCino, Inc.
The sale represents a significant move by one of nCino's key insiders, and such transactions are often closely monitored by the market for indications of a company's financial health and the confidence of its top executives and directors. However, investors are reminded that the reasons behind insider sales can vary widely and may not necessarily reflect a bearish outlook on the company's future.
nCino, Inc., headquartered in Wilmington, North Carolina, specializes in prepackaged software services and has been a notable player in the technology sector. As of now, the company has not issued any statements regarding the transaction, and the details remain as filed with the SEC. Investors and analysts will likely continue to watch the company's stock performance and any further insider transactions for insights into nCino's operational direction and financial stability.
InvestingPro Insights
Following the notable insider sale by Director Jeffrey Horing of nCino, Inc. (NASDAQ:NCNO), investors are keen on understanding the company's current financial standing and future prospects. According to InvestingPro data, nCino boasts a market capitalization of $4.01 billion and has experienced a revenue growth of 16.71% over the last twelve months as of Q4 2024. Despite not being profitable during the same period, with an operating income margin of -7.03%, the company's gross profit margin stands strong at 59.86%.
InvestingPro Tips suggest that nCino is expected to see net income growth this year, with analysts predicting the company will turn profitable. This is supported by the fact that 10 analysts have revised their earnings estimates upwards for the upcoming period. Additionally, nCino is trading near its 52-week high, with a price 93.65% of that peak, indicating a strong performance over the last month with a price total return of 16.88%.
It is important to recognize that nCino operates with a moderate level of debt, which could be a factor in its ability to invest and grow. While the company is trading at high EBITDA and revenue valuation multiples, these figures should be considered in the context of its growth potential and industry position.
For those interested in a deeper dive into nCino's financials and future outlook, InvestingPro offers additional insights. There are more InvestingPro Tips available, which can be accessed by visiting InvestingPro's nCino page. To enhance your experience, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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