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

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

Specifically, COO Donald F. Coleman sold 30,318 shares of the firm’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 transaction, the chief operating officer now directly owns 668,239 shares of the company’s stock, valued at approximately $33,031,053.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michele Murgel sold 1,252 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $62,600.00. Following 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 Intapp news, COO Donald F. Coleman sold 58,003 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 668,239 shares of the company’s stock, valued at approximately $32,950,865.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Several analysts have recently weighed in on INTA shares. UBS Group lifted their target price on shares of Intapp from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Stifel Nicolaus lifted their target price on shares of Intapp from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Barclays lifted their target price on shares of Intapp from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Oppenheimer reissued a “market perform” rating on shares of Intapp in a report on Monday, July 8th. Finally, Bank of America decreased their price objective on shares of Intapp from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.00.

Intapp Price Performance

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

Intapp (NASDAQ:INTA) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 earnings per share 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 business had revenue of $114.38 million during the quarter, compared to analyst estimates of $111.58 million. During the same quarter in the previous year, the business posted ($0.14) earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts forecast that Intapp, Inc. will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Intapp

A number of institutional investors have recently bought and sold shares of INTA. Vanguard Group Inc. boosted its stake in shares of Intapp by 42.7% in the first quarter. Vanguard Group Inc. now owns 5,014,640 shares of the company’s stock valued at $172,002,000 after purchasing an additional 1,501,091 shares during the period. Clearbridge Investments LLC purchased a new position in shares of Intapp in the first quarter valued at $16,156,000. Jane Street Group LLC boosted its stake in shares of Intapp by 766.2% in the first quarter. Jane Street Group LLC now owns 166,456 shares of the company’s stock valued at $5,709,000 after purchasing an additional 147,240 shares during the period. TD Asset Management Inc boosted its stake in shares of Intapp by 498.3% in the fourth quarter. TD Asset Management Inc now owns 45,090 shares of the company’s stock valued at $1,714,000 after purchasing an additional 37,554 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Intapp by 160.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,376 shares of the company’s stock valued at $242,000 after purchasing an additional 3,931 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

About Intapp

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.