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Steve Strazza

HMI Capital Adds to Its NCNO Stake

October 22, 2024

HMI Capital Management just made a bold move, raising its stake in nCino Inc $NCNO and making the Wilmington, North Carolina-based fintech outfit its No. 2 holding.

According to today’s 13D filing, the investment firm now holds 7,873,778 shares of NCNO, boosting its ownership from 6.40% to 6.80%.

HMI Capital primarily targets growth sectors like technology, focusing on companies with scalable, long-term growth potential.

Among its top holdings are Roblox $RBLX, Coupang $CPNG, GitLab $GTLB, and Toast $TOST.

With these disruptive players in its portfolio, HMI is betting big on innovation and staying at the forefront of the tech revolution.

Here’s The Hot Corner, with data from October 21, 2024:

241022_hot_corner_table

As for the chart of NCNO, the cloud-based banking solutions provider is on the verge of resolving higher from a rounding-bottom formation.

The 200-day moving average is curling up, suggesting the trend could be at the early stages of an upturn:

241022_hot_corner_ncno

If and when we get above 37.50, we want to be long NCNO.

Stay tuned. We'll be back on Wednesday with more insider activity.

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