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

Intapp, Inc. (NASDAQ:INTA) shares gapped down before the market opened 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.

Analysts Set New Price Targets

Several equities research analysts have issued reports on INTA shares. Raymond James reaffirmed a “market perform” rating on shares of Intapp in a research note on Friday, January 3rd. Stifel Nicolaus boosted their price objective on shares of Intapp from $70.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on shares of Intapp from $58.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Truist Financial boosted their price objective on shares of Intapp from $55.00 to $77.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Piper Sandler reiterated an “overweight” rating and set a $60.00 price target (up from $46.00) on shares of Intapp in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.82.

Intapp Stock Down 1.1 %

The stock has a fifty day moving average of $63.36 and a 200-day moving average of $50.02. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of -228.45 and a beta of 0.73.

Intapp (NASDAQ:INTA) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate 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%. The company’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.20) earnings per share. On average, equities analysts forecast that Intapp, Inc. will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CMO Scott Fitzgerald sold 3,000 shares of Intapp stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $63.53, for a total transaction of $190,590.00. Following the completion of the sale, the chief marketing officer now owns 42,212 shares in the company, valued at approximately $2,681,728.36. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Benjamin Harrison sold 22,373 shares of Intapp stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $68.87, for a total value of $1,540,828.51. The disclosure for this sale can be found here. Insiders sold a total of 402,624 shares of company stock valued at $24,954,154 over the last three months. 13.02% of the stock is currently owned by company insiders.

Institutional Trading of Intapp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FORA Capital LLC purchased a new stake in Intapp during the 3rd quarter worth about $566,000. Loomis Sayles & Co. L P grew its holdings in Intapp by 29.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,492,620 shares of the company’s stock valued at $71,392,000 after buying an additional 343,275 shares during the period. Farther Finance Advisors LLC grew its holdings in Intapp by 1,054.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 577 shares of the company’s stock valued at $28,000 after buying an additional 527 shares during the period. Barclays PLC grew its holdings in Intapp by 90.1% in the 3rd quarter. Barclays PLC now owns 106,781 shares of the company’s stock valued at $5,108,000 after buying an additional 50,607 shares during the period. Finally, Algert Global LLC purchased a new stake in Intapp in the 3rd quarter valued at about $468,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.