Intapp, Inc. (NASDAQ:INTA) Short Interest Up 6.1% in December

Intapp, Inc. (NASDAQ:INTA) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 2,960,000 shares, a growth of 6.1% from the November 30th total of 2,790,000 shares. Approximately 4.2% of the shares of the company are sold short. Based on an average daily volume of 631,500 shares, the short-interest ratio is currently 4.7 days.

Intapp Stock Performance

Intapp stock opened at $64.63 on Friday. The company has a market cap of $5.00 billion, a price-to-earnings ratio of -222.86 and a beta of 0.74. Intapp has a 1 year low of $30.36 and a 1 year high of $71.34. The firm has a 50 day moving average price of $60.86 and a 200 day moving average price of $48.03.

Intapp (NASDAQ:INTA) last issued its earnings results on Monday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Intapp had a negative return on equity of 2.08% and a negative net margin of 4.74%. The business had revenue of $118.81 million during the quarter, compared to analysts’ expectations of $117.88 million. During the same quarter in the previous year, the business earned ($0.20) EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. Sell-side analysts predict that Intapp will post -0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

INTA has been the subject of a number of research reports. Stifel Nicolaus lifted their target price on shares of Intapp from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Raymond James upped their target price on Intapp from $46.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Truist Financial raised their price target on Intapp from $55.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Piper Sandler restated an “overweight” rating and issued a $60.00 price objective (up from $46.00) on shares of Intapp in a research report on Tuesday, November 5th. Finally, Citigroup lifted their price objective on Intapp from $63.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.64.

Insider Buying and Selling

In other Intapp news, insider Thad Jampol sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $45.09, for a total value of $901,800.00. Following the sale, the insider now owns 772,412 shares of the company’s stock, valued at approximately $34,828,057.08. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John T. Hall sold 70,986 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $68.83, for a total value of $4,885,966.38. Following the completion of the transaction, the chief executive officer now owns 5,026,096 shares of the company’s stock, valued at approximately $345,946,187.68. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 409,624 shares of company stock valued at $24,909,164 over the last ninety days. Corporate insiders own 13.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in INTA. Farther Finance Advisors LLC boosted its position in shares of Intapp by 1,054.0% in the third quarter. Farther Finance Advisors LLC now owns 577 shares of the company’s stock worth $28,000 after buying an additional 527 shares during the period. Quest Partners LLC acquired a new position in shares of Intapp in the 3rd quarter valued at approximately $54,000. Financial Management Professionals Inc. bought a new position in Intapp during the 3rd quarter valued at $57,000. Wilmington Savings Fund Society FSB acquired a new position in Intapp in the third quarter worth about $64,000. Finally, Advisors Asset Management Inc. grew its position in shares of Intapp by 59.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,397 shares of the company’s stock worth $67,000 after acquiring an additional 519 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.