Intapp (NASDAQ:INTA) Stock Price Down 4% After Insider Selling

Intapp, Inc. (NASDAQ:INTA) shares traded down 4% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $48.77 and last traded at $49.16. 170,352 shares were traded during mid-day 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 stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $49.43, for a total value of $1,498,618.74. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michele Murgel sold 1,252 shares of the stock in a transaction dated 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 owns 152,702 shares of the company’s stock, valued at approximately $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 stock in a transaction on Friday, September 20th. The stock was 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 owns 668,239 shares in the company, valued at approximately $32,950,865.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays increased their target price on Intapp from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Bank of America dropped their price target on shares of Intapp from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Intapp in a research note on Monday, July 8th. UBS Group upped their price target on shares of Intapp from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus upped their price target on shares of Intapp from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Intapp has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Intapp Stock Down 1.2 %

The company’s 50-day simple moving average is $41.60 and its 200 day simple moving average is $36.85. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -77.93 and a beta of 0.65.

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

Institutional Investors Weigh In On Intapp

Several hedge funds have recently made changes to their positions in the stock. Clearbridge Investments LLC lifted its stake in shares of Intapp by 64.0% in the second quarter. Clearbridge Investments LLC now owns 772,255 shares of the company’s stock valued at $28,319,000 after buying an additional 301,238 shares during the period. Susquehanna Fundamental Investments LLC lifted its stake in Intapp by 384.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 69,718 shares of the company’s stock worth $2,557,000 after purchasing an additional 55,318 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Intapp by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 24,551 shares of the company’s stock worth $900,000 after purchasing an additional 2,891 shares during the period. Millennium Management LLC lifted its stake in Intapp by 30.1% during the second quarter. Millennium Management LLC now owns 357,437 shares of the company’s stock worth $13,107,000 after purchasing an additional 82,761 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in Intapp by 18.3% during the second quarter. Squarepoint Ops LLC now owns 135,517 shares of the company’s stock worth $4,969,000 after purchasing an additional 20,972 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.