Scopia Capital Management LP Makes New Investment in Intapp, Inc. (NASDAQ:INTA)

Scopia Capital Management LP purchased a new position in shares of Intapp, Inc. (NASDAQ:INTA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 102,657 shares of the company’s stock, valued at approximately $4,910,000. Intapp makes up about 1.0% of Scopia Capital Management LP’s portfolio, making the stock its 28th biggest holding. Scopia Capital Management LP owned 0.13% of Intapp at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in shares of Intapp by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 24,815 shares of the company’s stock worth $1,187,000 after buying an additional 264 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Intapp by 7.2% in the third quarter. Harbor Capital Advisors Inc. now owns 5,539 shares of the company’s stock worth $265,000 after buying an additional 373 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Intapp by 59.1% in the third quarter. Advisors Asset Management Inc. now owns 1,397 shares of the company’s stock worth $67,000 after buying an additional 519 shares during the period. Farther Finance Advisors LLC increased its stake 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. Finally, J.Safra Asset Management Corp increased its stake in shares of Intapp by 634.0% in the second quarter. J.Safra Asset Management Corp now owns 712 shares of the company’s stock worth $26,000 after buying an additional 615 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO John T. Hall sold 61,842 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $59.68, for a total value of $3,690,730.56. Following the completion of the sale, the chief executive officer now directly owns 5,030,432 shares in the company, valued at $300,216,181.76. This represents a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thad Jampol sold 31,666 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $49.09, for a total value of $1,554,483.94. Following the transaction, the insider now owns 772,412 shares of the company’s stock, valued at approximately $37,917,705.08. This trade represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 390,215 shares of company stock worth $21,267,180. Corporate insiders own 13.02% of the company’s stock.

Intapp Trading Up 4.0 %

Shares of INTA stock opened at $62.55 on Friday. Intapp, Inc. has a 12 month low of $30.36 and a 12 month high of $64.56. The stock has a market cap of $4.84 billion, a PE ratio of -215.69 and a beta of 0.64. The company’s fifty day moving average price is $52.58 and its 200-day moving average price is $43.11.

Intapp (NASDAQ:INTA) last announced its 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 net margin of 4.74% and a negative return on equity of 2.08%. The firm had revenue of $118.81 million for the quarter, compared to analysts’ expectations of $117.88 million. During the same quarter in the previous year, the business posted ($0.20) EPS. The company’s quarterly revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts forecast that Intapp, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Truist Financial reaffirmed a “buy” rating and issued a $55.00 target price (up from $47.00) on shares of Intapp in a research note on Tuesday, November 5th. Stifel Nicolaus lifted their target price on shares of Intapp from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Citigroup lifted their target price on shares of Intapp from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Piper Sandler reissued an “overweight” rating and set a $60.00 price objective (up from $46.00) on shares of Intapp in a research report on Tuesday, November 5th. Finally, Barclays boosted their price objective on shares of Intapp from $44.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Two investment 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 has a consensus rating of “Moderate Buy” and an average price target of $53.55.

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.