Form 4: Insight Partners Sells nCino Shares in Multiple Transactions

Jeffrey Horing, a director and 10% owner of nCino, Inc., reports the sale of a significant number of shares held by Insight Partners and related entities.

Summary

• Jeffrey Horing, a director and 10% owner of nCino, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The filing reports multiple transactions involving the sale of nCino common stock on July 11, 2024.
• Insight Partners, through various affiliated entities, sold 856,591 shares at a weighted average price of $31.5041 and 5,363,248 shares at $31.
• Following these transactions, Insight Partners continues to hold a substantial number of nCino shares indirectly through various funds and entities.
• Horing also directly owns 117,603 shares and indirectly owns 137,527 shares.
• The reporting person disclaims beneficial ownership of the shares held by entities affiliated with Insight Partners, except to the extent of his pecuniary interest therein, if any.

Sentiment

Score: 5

Explanation: Neutral sentiment as it is a standard reporting of stock sales. The size of the sale is notable but doesn't inherently indicate a positive or negative outlook.

Management Comments

• Jeffrey Horing disclaims beneficial ownership of the shares held by entities affiliated with Insight Partners, except to the extent of his pecuniary interest therein, if any.

Industry Context

This filing reflects ongoing transactions by major shareholders in publicly traded companies, which are routinely monitored by investors for insights into investor sentiment and potential future stock performance.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, as mandated by the SEC.
• The size of the transaction is significant, but not uncommon for venture capital firms like Insight Partners that hold large stakes in portfolio companies.
• Comparable transactions can be seen in filings from other venture capital and private equity firms with significant holdings in publicly traded companies.

Stakeholder Impact

• The sale of a significant number of shares by a major shareholder like Insight Partners could potentially influence investor sentiment and the stock price of nCino.
• The transactions do not appear to have any immediate impact on employees, customers, suppliers, or creditors.

Key Dates