Jeff Horing, a director and significant shareholder of nCino, Inc. (NASDAQ:NCNO), has sold a substantial portion of his holdings in the company. According to a recent SEC filing, Horing disposed of 1,833,975 shares of common stock on October 18, with prices ranging from $36.50 to $36.65 per share. This transaction amounted to a total value of approximately $67.17 million.
Following this sale, Horing continues to hold a significant position in nCino, with 12,513,467 shares remaining under indirect ownership. The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, which was adopted on April 10, 2024.
In other recent news, nCino Inc. has been the subject of significant developments. The company's Q2 2025 financial results were robust, with total revenues hitting $132.4 million, subscription revenues of $113.9 million, and non-GAAP operating income of $19.3 million. Furthermore, the dismissal of a stockholder lawsuit related to nCino's mergers with nCino OpCo and SimpleNexus was affirmed by the Delaware Supreme Court, concluding the litigation.
Truist Securities has raised its stock price target for nCino from $37.00 to $44.00, maintaining a Buy rating. This adjustment was influenced by the potential of nCino's AI-powered Banking Advisor, which is expected to boost the company's long-term financial performance. In addition, Raymond James upgraded nCino from Market Perform to Outperform, highlighting the company's potential for organic growth acceleration.
Tokushima Taisho Bank integrated nCino's Commercial Banking Solution into its business lending services, aiming to enhance operational efficiency and customer service. This move aligns with the bank's commitment to digital transformation. These are the recent developments surrounding nCino Inc.
InvestingPro Insights
The recent large-scale sale by director Jeff Horing comes at a time when nCino (NASDAQ:NCNO) is experiencing notable market performance. According to InvestingPro data, the company's stock has shown strong returns, with a 22.24% increase over the last month and a 26.52% gain over the past six months. This upward trend has brought the stock price to 98.62% of its 52-week high, suggesting robust investor confidence.
However, potential investors should consider some key financial metrics. nCino's revenue for the last twelve months stands at $506.12 million, with a revenue growth of 13.64%. Despite this growth, the company is not yet profitable, as indicated by its negative operating income of $19.35 million for the same period.
InvestingPro Tips highlight that while net income is expected to grow this year, and analysts predict the company will be profitable, nCino is currently trading at high EBITDA and revenue valuation multiples. This could indicate that the stock might be overvalued at its current price.
For those considering an investment in nCino, it's worth noting that InvestingPro offers 13 additional tips that could provide further insights into the company's financial health and market position. These additional tips could be particularly valuable given the recent insider selling activity and the company's current market valuation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.