This Fintech Stock Is Down 70% — But a Hedge Fund Just Boosted Its $66 Million Stake

2 days ago 7

Jonathan Ponciano, The Motley Fool

Tue, December 9, 2025 astatine 11:08 AM CST 5 min read

New York City-based Senvest Management accrued its involvement successful nCino by astir 2.4 cardinal shares during the 3rd quarter.
The wide presumption worth grew by $63.8 cardinal from 4th to quarter.
Following the transaction, Senvest reported holding implicit 2.4 cardinal nCino shares valued astatine astir $65.6 million.
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New York City-based Senvest Management disclosed a important acquisition of nCino (NASDAQ:NCNO) banal connected November 14, adding astir 2.4 cardinal shares and seeing the presumption worth summation by an estimated $63.8 cardinal presumption from the anterior period.

According to a filing with the U.S. Securities and Exchange Commission dated November 14, Senvest Management substantially accrued its presumption successful nCino (NASDAQ:NCNO) by astir 2.4 cardinal shares during the 3rd quarter. The determination brought its full holding to conscionable implicit 2.4 cardinal shares valued astatine $65.6 cardinal arsenic of September 30.

Senvest's nCino involvement accounts for astir 2.1% of the fund's 13F reportable AUM.

Top holdings aft the filing:

NASDAQ: WIX: $442.1 cardinal (14.2% of AUM)
NASDAQ: TSEM: $405 cardinal (13% of AUM)
NYSE: EPAM: $146 cardinal (4.7% of AUM)
NYSE: PATH: $145.3 cardinal (4.7% of AUM)
NASDAQ: ILMN: $134 cardinal (4.3% of AUM)

As of Tuesday, shares of nCino were priced astatine $24.73, down 33% implicit the past twelvemonth and good underperforming the S&P 500, which is up 13% successful the aforesaid period.

Metric

Value

Revenue (TTM)	$586.5 million
Net Income (TTM)	($21.8 million)
Price (as of Tuesday)	$24.73
One-Year Price Change	(33%)

nCino offers cloud-based bundle solutions for fiscal institutions, including the nCino Bank Operating System and SimpleNexus platform.
The institution serves a wide scope of fiscal assemblage clients, from planetary banks and recognition unions to owe banks and caller marketplace entrants.
It leverages precocious analytics and artificial intelligence/machine learning (AI/ML) to assistance clients streamline operations and negociate regulatory compliance.

nCino, Inc. operates astatine standard arsenic a starring SaaS supplier for the fiscal services industry, with a absorption connected digitizing and automating analyzable banking processes. The institution leverages precocious analytics and AI/ML capabilities to assistance institutions streamline operations, negociate risk, and support regulatory compliance. Its integrated level and diversified lawsuit basal presumption it competitively wrong the fiscal exertion sector.

Senvest's determination seemingly reflects a beardown condemnation that this beaten-down fintech sanction mightiness beryllium owed for a turnaround. nCino’s latest 4th showed accelerating profitability and renewed lawsuit momentum, including double-digit subscription gross maturation and robust request for its AI-enabled platform. Those trends springiness investors a clearer enactment of show to durable borderline enlargement — a cardinal differentiator successful a competitory SaaS landscape.

Senvest’s buildout of a afloat 2.4 million-share presumption underscores condemnation successful that trajectory, particularly arsenic nCino leans deeper into AI. The institution delivered 10% full gross maturation and 11% subscription gross maturation successful the 3rd quarter, portion expanding GAAP operating borderline to 8%, up much than 800 ground points twelvemonth implicit year. Non-GAAP operating income roseate 42%, reflecting operating leverage and disciplined outgo management. Recent wins — including expansions astatine 2 U.S. top-50 banks and caller lawsuit additions successful Japan and Europe — constituent to broad-based request crossed regions and merchandise lines.

For a banal inactive down much than 70% from 2020 highs, improving fundamentals paired with strategical organization involvement whitethorn suggest the aboriginal stages of a multi-year betterment thesis.