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

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 changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial lifted their price objective on Intapp from $55.00 to $77.00 and gave the company a “buy” rating in a report on Friday, December 13th. Stifel Nicolaus lifted their price objective on Intapp from $70.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Citigroup reaffirmed a “neutral” rating and issued a $78.00 price objective (down from $87.00) on shares of Intapp in a report on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $60.00 price target (up previously from $46.00) on shares of Intapp in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price target on Intapp from $58.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.82.

Intapp Trading Up 1.7 %

The firm has a market cap of $5.22 billion, a P/E ratio of -232.69 and a beta of 0.73. The business has a 50-day moving average of $63.82 and a two-hundred day moving average of $50.47.

Intapp (NASDAQ:INTA) last released its quarterly earnings results on Monday, November 4th. The company reported $0.21 EPS for the quarter, beating 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 firm had revenue of $118.81 million for the quarter, compared to analyst estimates of $117.88 million. During the same quarter in the previous year, the company posted ($0.20) EPS. The business’s revenue was up 17.0% on a year-over-year basis. As a group, equities analysts expect that Intapp, Inc. will post -0.14 EPS for the current year.

Insider Buying and Selling at Intapp

In other news, insider Thad Jampol sold 20,174 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $59.30, for a total value of $1,196,318.20. Following the transaction, the insider now directly owns 803,400 shares of the company’s stock, valued at $47,641,620. The trade was a 2.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Scott Fitzgerald sold 3,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $64.38, for a total value of $193,140.00. Following the completion of the transaction, the chief marketing officer now directly owns 39,212 shares in the company, valued at $2,524,468.56. This represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 402,624 shares of company stock worth $24,954,154. Insiders own 13.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in INTA. Luxor Capital Group LP acquired a new position in shares of Intapp in the 3rd quarter valued at about $47,837,000. FMR LLC raised its stake 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 buying an additional 411,434 shares during the period. Loomis Sayles & Co. L P raised its stake 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 buying an additional 343,275 shares during the period. Clearbridge Investments LLC raised its stake in Intapp by 64.0% during the 2nd quarter. Clearbridge Investments LLC now owns 772,255 shares of the company’s stock worth $28,319,000 after buying an additional 301,238 shares during the period. Finally, Praesidium Investment Management Company LLC raised its stake 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 buying an additional 256,327 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

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.