Intapp (NASDAQ:INTA) Shares Down 5.3% – Should You Sell?

Intapp, Inc. (NASDAQ:INTA)’s share price dropped 5.3% during mid-day trading on Tuesday. The company traded as low as $45.46 and last traded at $44.64. 256,318 shares were traded during trading, a decline of 73% from the average daily volume of 954,392 shares. The stock had previously closed at $47.15.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup raised their price target on shares of Intapp from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Intapp in a research note on Wednesday, September 2nd. Oppenheimer reaffirmed a “market perform” rating on shares of Intapp in a research report on Wednesday. Truist Financial upped their price objective on shares of Intapp from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Piper Sandler raised their target price on Intapp from $25.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.71.

Intapp Price Performance

The firm has a market capitalization of $3.04 billion, a PE ratio of -76.14, a P/E/G ratio of 18.53 and a beta of 0.34. The company’s fifty day simple moving average is $40.03 and its 200-day simple moving average is $30.24.

Intapp (NASDAQ:INTA) last released its earnings results on Tuesday, October 27th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $161.26 million during the quarter, compared to analysts’ expectations of $159.63 million. Intapp had a negative net margin of 7.15% and a negative return on equity of 3.30%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. Analysts forecast that Intapp, Inc. will post 0.07 earnings per share for the current year.

Insider Transactions at Intapp

In related news, insider Thad Jampol sold 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $40.39, for a total transaction of $193,872.00. Following the completion of the sale, the insider directly owned 928,585 shares in the company, valued at approximately $37,505,548.15. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Morton, Jr. sold 10,000 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $40.88, for a total value of $408,800.00. Following the completion of the transaction, the chief financial officer directly owned 120,074 shares of the company’s stock, valued at approximately $4,908,625.12. This represents a 7.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 149,184 shares of company stock worth $6,268,066. 11.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Intapp

A number of hedge funds have recently modified their holdings of INTA. BlackRock Inc. acquired a new stake in shares of Intapp in the second quarter valued at $133,660,000. Bamco Inc. NY purchased a new position in Intapp during the 2nd quarter valued at about $50,184,000. Praesidium Investment Management Company LLC purchased a new position in Intapp during the 2nd quarter valued at about $19,761,311. TimesSquare Capital Management LLC acquired a new position in Intapp in the 2nd quarter valued at about $12,650,000. Finally, Bank of America Corp DE acquired a new position in Intapp in the 2nd quarter valued at about $12,344,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Intapp Company Profile

Intapp, Inc develops cloud-based software for professional and financial services firms. Its platform is designed to help organizations manage client and relationship data, business development, risk and compliance processes, collaboration, time tracking, billing, and operational workflows.

The company’s product portfolio includes solutions for relationship management and deal management, professional-services time and billing, conflicts and compliance, document and information management, secure collaboration, and workflow automation.