Form 4: Insight Partners' Jeffrey Horing Sells nCino Shares

Jeffrey Horing, a director and 10% owner of nCino, Inc., sold 1,871,828 shares of common stock at a weighted average price of $31.507 on June 12, 2024.

Summary

• On June 12, 2024, Jeffrey Horing, a director and 10% owner of nCino, Inc., sold 1,871,828 shares of common stock.
• The shares were sold at a weighted average price of $31.507.
• The price range for the sales was between $31.400 and $32.000.
• Following the transaction, Horing directly owns 111,729 shares of nCino common stock, including 5,770 restricted stock units (RSUs) that vest on the earlier of June 22, 2024, or the date of the next annual meeting.
• Horing also indirectly owns 27,141,639 shares through various Insight Partners entities and other investment vehicles.

Sentiment

Score: 5

Explanation: The document itself is neutral, simply reporting a transaction. The sentiment depends on the investor's interpretation of the sale; it could be seen as a lack of confidence or simply portfolio management.

Industry Context

Sales by significant shareholders are common and can be driven by various factors, including portfolio diversification or personal financial planning. The impact on the stock price depends on the size of the sale relative to the trading volume and overall market sentiment.

Comparison to Industry Standards

• Comparing this transaction to similar sales by insiders at comparable SaaS companies would provide context.
• For example, sales by executives at companies like Salesforce (CRM) or Workday (WDAY) are often scrutinized for market signals.
• The size of this sale, 1,871,828 shares, should be compared to the average daily trading volume of NCNO to assess its potential impact.
• A sale representing a significant percentage of the daily volume could exert downward pressure on the stock price.

Stakeholder Impact

• Shareholders may react to the news of the stock sale, potentially impacting the stock price.
• Employees may be concerned about the implications of a large shareholder selling shares, although this is a common occurrence.
• The sale could influence market perception of nCino's financial health and future prospects.

Key Dates