All the signs pointed to it being more than just a coincidence. 所有的迹象表明这不仅仅是一个巧合。

请问如何分析这个句子，尤其是这里的 being more than just a coincidence？我有两种分析，请专家把关一下，哪个是对的：

分析一：it being more than just a coincidence 是动名词的复合结构，it 是动名词短语 being more than just a coincidence 的逻辑主语，整个复合结构用作 point to 的宾语。

分析二：it 是 point to 的宾语，动名词 being more than just a coincidence 是宾语 it 的补足语。