Luxor Capital Group LP Makes New $47.84 Million Investment in Intapp, Inc. (NASDAQ:INTA)

Luxor Capital Group LP bought a new stake in shares of Intapp, Inc. (NASDAQ:INTA) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,000,152 shares of the company’s stock, valued at approximately $47,837,000. Intapp comprises about 3.0% of Luxor Capital Group LP’s holdings, making the stock its 9th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. J.Safra Asset Management Corp boosted its holdings in Intapp by 634.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 712 shares of the company’s stock valued at $26,000 after acquiring an additional 615 shares during the period. Farther Finance Advisors LLC grew its holdings 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 purchasing an additional 527 shares during the last quarter. Blue Trust Inc. purchased a new position in Intapp in the 2nd quarter worth about $30,000. Comerica Bank boosted its position in Intapp by 218.4% in the 1st quarter. Comerica Bank now owns 1,261 shares of the company’s stock valued at $43,000 after buying an additional 865 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Intapp during the third quarter worth approximately $54,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $60.00 price target (up previously from $46.00) on shares of Intapp in a research report on Tuesday, November 5th. Stifel Nicolaus raised their target price on shares of Intapp from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Bank of America reduced their price target on shares of Intapp from $52.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Citigroup increased their price objective on shares of Intapp from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Barclays boosted their price objective on shares of Intapp from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.55.

Insiders Place Their Bets

In related news, CMO Scott Fitzgerald sold 3,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $63.53, for a total transaction of $190,590.00. Following the completion of the transaction, the chief marketing officer now owns 42,212 shares of the company’s stock, valued at $2,681,728.36. This trade represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David H. Morton, Jr. sold 4,204 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $59.97, for a total transaction of $252,113.88. Following the transaction, the chief financial officer now owns 27,331 shares of the company’s stock, valued at $1,639,040.07. This represents a 13.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 403,215 shares of company stock valued at $22,106,070. 13.02% of the stock is owned by company insiders.

Intapp Stock Performance

INTA opened at $66.46 on Monday. The firm’s 50-day moving average price is $54.26 and its 200-day moving average price is $44.21. Intapp, Inc. has a 52-week low of $30.36 and a 52-week high of $68.78.

Intapp (NASDAQ:INTA) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Intapp had a negative net margin of 4.74% and a negative return on equity of 2.08%. The business had revenue of $118.81 million for the quarter, compared to analyst estimates of $117.88 million. During the same quarter in the prior year, the business posted ($0.20) EPS. Intapp’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts expect that Intapp, Inc. will post -0.14 EPS for the current year.

Intapp 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.