Intapp (NASDAQ:INTA) Trading Down 4% Following Insider Selling

Intapp, Inc. (NASDAQ:INTA)’s stock price traded down 4% on Thursday following insider selling activity. The company traded as low as $48.77 and last traded at $49.16. 170,352 shares traded hands during trading, a decline of 74% from the average session volume of 653,595 shares. The stock had previously closed at $51.19.

Specifically, COO Donald F. Coleman sold 30,318 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $49.43, for a total transaction of $1,498,618.74. Following the completion of the sale, the chief operating officer now owns 668,239 shares in the company, valued at approximately $33,031,053.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michele Murgel sold 1,252 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $62,600.00. Following the completion of the transaction, the insider now directly owns 152,702 shares in the company, valued at $7,635,100. The disclosure for this sale can be found here. In other news, COO Donald F. Coleman sold 58,003 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $49.31, for a total transaction of $2,860,127.93. Following the completion of the sale, the chief operating officer now directly owns 668,239 shares of the company’s stock, valued at $32,950,865.09. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on INTA shares. Oppenheimer reaffirmed a “market perform” rating on shares of Intapp in a research report on Monday, July 8th. Piper Sandler restated an “overweight” rating and issued a $46.00 target price on shares of Intapp in a report on Wednesday, August 14th. Stifel Nicolaus upped their price target on Intapp from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday. Barclays raised their price objective on Intapp from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, Citigroup upped their target price on shares of Intapp from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.00.

Intapp Stock Performance

The stock has a market cap of $3.62 billion, a P/E ratio of -83.92 and a beta of 0.65. The business has a 50 day simple moving average of $41.12 and a 200-day simple moving average of $36.68.

Intapp (NASDAQ:INTA) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $114.38 million during the quarter, compared to the consensus estimate of $111.58 million. Intapp had a negative net margin of 7.44% and a negative return on equity of 5.36%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.14) earnings per share. On average, sell-side analysts predict that Intapp, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intapp

A number of hedge funds have recently modified their holdings of INTA. Vanguard Group Inc. boosted its position in Intapp by 42.7% during the first quarter. Vanguard Group Inc. now owns 5,014,640 shares of the company’s stock worth $172,002,000 after purchasing an additional 1,501,091 shares during the period. Bamco Inc. NY bought a new position in Intapp in the 1st quarter worth approximately $88,605,000. Clearbridge Investments LLC boosted its holdings in Intapp by 64.0% in the 2nd quarter. Clearbridge Investments LLC now owns 772,255 shares of the company’s stock worth $28,319,000 after buying an additional 301,238 shares during the period. Dimensional Fund Advisors LP grew its stake in Intapp by 18.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 686,496 shares of the company’s stock valued at $25,173,000 after buying an additional 106,668 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in Intapp by 58.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 381,912 shares of the company’s stock valued at $13,100,000 after acquiring an additional 140,792 shares during the period. Institutional investors own 89.96% of the company’s stock.

Intapp Company Profile

Intapp, Inc, through its subsidiary, Integration Appliance, Inc, provides industry-specific cloud-based software solutions for the professional and financial services industry in the United States, the United Kingdom, and internationally. Its solutions include DealCloud, a deal and relationship management solution that manages financial services firms' market relationships, prospective clients and investments, current engagements and deal processes, and operations and compliance activities; collaboration and content solutions, including Intapp documents, an engagement-centric document management system, and Intapp workspaces; risk and compliance management solutions, such as Intapp conflicts, Intapp intake, Intapp terms, Intapp walls, and Intapp employee compliance; and operational and financial management solutions comprising Intapp Billstream, a cloud-based automated proforma invoice solution, Intapp time, and Intapp terms.