Tensile Capital Management LP Has $44.74 Million Stock Holdings in nCino Inc. $NCNO

Key Points

• Tensile Capital Management LP increased its stake in nCino Inc. by 14%, acquiring an additional 200,000 shares, bringing its total holdings to approximately $44.7 million and making it the 8th largest position in their portfolio.
• Several other institutional investors, including Covestor Ltd and First Horizon Advisors Inc., also increased their positions in nCino, highlighting ongoing interest from large investors and adding to the fact that 94.76% of nCino's stock is held by institutional investors.
• nCino reported a 12.4% year-over-year revenue growth with a quarterly revenue of $148.82 million, and it surpassed earnings expectations with an EPS of $0.22 against an estimated $0.14.

Tensile Capital Management LP boosted its holdings in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,628,734 shares of the company's stock after acquiring an additional 200,000 shares during the period. nCino makes up approximately 5.7% of Tensile Capital Management LP's investment portfolio, making the stock its 8th largest holding. Tensile Capital Management LP owned 1.41% of nCino worth $44,741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in nCino by 27.6% during the first quarter. Covestor Ltd now owns 2,388 shares of the company's stock worth $66,000 after acquiring an additional 517 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of nCino by 22.5% in the first quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock valued at $80,000 after purchasing an additional 538 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of nCino in the first quarter valued at about $82,000. Asset Management One Co. Ltd. lifted its holdings in shares of nCino by 63.1% in the first quarter. Asset Management One Co. Ltd. now owns 3,718 shares of the company's stock valued at $102,000 after purchasing an additional 1,439 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of nCino in the first quarter valued at about $102,000. 94.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sean Desmond sold 9,550 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $27.45, for a total value of $262,147.50. Following the transaction, the chief executive officer directly owned 628,603 shares of the company's stock, valued at $17,255,152.35. This represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gregory Orenstein sold 4,155 shares of nCino stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $27.45, for a total transaction of $114,054.75. Following the sale, the chief financial officer directly owned 466,099 shares of the company's stock, valued at $12,794,417.55. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,480,723 shares of company stock valued at $135,667,553. 5.70% of the stock is owned by company insiders.

nCino Stock Performance

NCNO stock traded down $0.45 during trading hours on Friday, reaching $30.02. The stock had a trading volume of 467,958 shares, compared to its average volume of 1,802,257. The stock has a 50-day simple moving average of $29.32 and a 200 day simple moving average of $27.29. nCino Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The stock has a market capitalization of $3.48 billion, a PE ratio of -103.64, a price-to-earnings-growth ratio of 19.77 and a beta of 0.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.03 and a quick ratio of 1.03.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Tuesday, August 26th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. nCino had a negative net margin of 5.86% and a positive return on equity of 1.18%. The company had revenue of $148.82 million for the quarter, compared to analysts' expectations of $143.17 million. During the same period in the prior year, the firm earned $0.14 EPS. nCino's quarterly revenue was up 12.4% compared to the same quarter last year. nCino has set its FY 2026 guidance at 0.770-0.800 EPS. Q3 2026 guidance at 0.200-0.21 EPS. Analysts predict that nCino Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NCNO. Citigroup restated an "outperform" rating on shares of nCino in a report on Wednesday, August 27th. Barclays boosted their price target on nCino from $31.00 to $37.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. Truist Financial boosted their price target on nCino from $27.00 to $32.00 and gave the company a "hold" rating in a report on Wednesday, August 27th. Stephens boosted their price target on nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Finally, Needham & Company LLC boosted their price target on nCino from $33.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $33.94.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.