Tensile Capital Management sold over 449,000 shares of nCino in the third quarter, reducing the position value by $13.3 million. The firm now holds 901,539 nCino shares valued at $24.4 million, accounting for 3.1% of fund AUM. nCino’s stock price is at $23.39, down 37% in the past year. The company’s revenue for the trailing twelve months is $586.5 million, with a market capitalization of $2.7 billion. Tensile’s reduction in nCino shares comes as the company posts strong financial results but faces a decline in stock performance.

nCino is a cloud-based banking software provider with a diverse customer base including global banks and credit unions. The company’s SaaS model generates revenue through cloud-based software applications. Despite strong financial performance, nCino’s stock has declined over the past year. Investors are reassessing high-growth fintech names like nCino, balancing weakening share performance with strengthening fundamentals. The key question remains whether nCino’s increasing profitability and AI capabilities can offset multiple compression in the near term.

Read more at Nasdaq: Value Fund Cuts nCino Stake After $152 Million Quarter: What Long-Term Investors Should Know