Intapp (NASDAQ:INTA) Shares Gap Down – Here’s Why

Shares of Intapp, Inc. (NASDAQ:INTA) gapped down prior to trading on Thursday . The stock had previously closed at $66.98, but opened at $65.57. Intapp shares last traded at $66.66, with a volume of 71,254 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INTA. JPMorgan Chase & Co. upped their price target on Intapp from $58.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Truist Financial increased their target price on Intapp from $55.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Stifel Nicolaus upped their price target on Intapp from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price target (up previously from $46.00) on shares of Intapp in a research note on Tuesday, November 5th. Finally, Raymond James reissued a “market perform” rating on shares of Intapp in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.82.

Intapp Price Performance

The company has a market cap of $5.22 billion, a price-to-earnings ratio of -232.69 and a beta of 0.73. The stock has a 50-day moving average price of $63.82 and a 200 day moving average price of $50.47.

Intapp (NASDAQ:INTA) last posted its quarterly earnings data 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. The business had revenue of $118.81 million during the quarter, compared to the consensus estimate of $117.88 million. Intapp had a negative return on equity of 2.08% and a negative net margin of 4.74%. Intapp’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the company earned ($0.20) earnings per share. Sell-side analysts expect that Intapp, Inc. will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CMO Scott Fitzgerald sold 5,221 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $59.30, for a total value of $309,605.30. Following the completion of the sale, the chief marketing officer now directly owns 46,552 shares of the company’s stock, valued at $2,760,533.60. This trade represents a 10.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Thad Jampol sold 20,174 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $59.30, for a total value of $1,196,318.20. Following the completion of the sale, the insider now directly owns 803,400 shares of the company’s stock, valued at approximately $47,641,620. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 402,624 shares of company stock worth $24,954,154. 13.02% of the stock is owned by corporate insiders.

Institutional Trading of Intapp

A number of hedge funds have recently made changes to their positions in INTA. FMR LLC lifted its holdings in Intapp by 7.8% during the 3rd quarter. FMR LLC now owns 5,658,957 shares of the company’s stock worth $270,668,000 after purchasing an additional 411,434 shares during the last quarter. Bamco Inc. NY lifted its holdings in Intapp by 1.2% during the 3rd quarter. Bamco Inc. NY now owns 2,850,455 shares of the company’s stock worth $136,337,000 after purchasing an additional 34,409 shares during the last quarter. Praesidium Investment Management Company LLC lifted its holdings in Intapp by 15.3% during the 3rd quarter. Praesidium Investment Management Company LLC now owns 1,930,095 shares of the company’s stock worth $92,316,000 after purchasing an additional 256,327 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in Intapp by 29.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,492,620 shares of the company’s stock worth $71,392,000 after purchasing an additional 343,275 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Intapp by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,051,237 shares of the company’s stock worth $50,291,000 after purchasing an additional 95,035 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.