Intapp (NASDAQ:INTA) Shares Up 4% – Here’s Why

Intapp, Inc. (NASDAQ:INTA) shares traded up 4% during mid-day trading on Tuesday . The stock traded as high as $63.98 and last traded at $64.06. 222,409 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 638,235 shares. The stock had previously closed at $61.62.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INTA. Citigroup reissued a “neutral” rating and set a $78.00 price target (down from $87.00) on shares of Intapp in a research note on Thursday, January 16th. Truist Financial boosted their target price on Intapp from $55.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Raymond James reiterated a “market perform” rating on shares of Intapp in a research report 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. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $71.00 target price (up previously from $60.00) on shares of Intapp in a research note on Tuesday, February 4th. Four research 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 company currently has an average rating of “Moderate Buy” and an average target price of $66.45.

Intapp Trading Up 4.2 %

The firm’s 50 day simple moving average is $66.81 and its 200-day simple moving average is $59.96. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of -221.30 and a beta of 0.76.

Intapp (NASDAQ:INTA) last released its earnings results on Tuesday, February 4th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.25). Intapp had a negative net margin of 4.78% and a negative return on equity of 1.86%. As a group, equities research analysts predict that Intapp, Inc. will post -0.14 earnings per share for the current year.

Insider Transactions at Intapp

In other Intapp news, CFO David H. Morton, Jr. sold 5,445 shares of Intapp stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $68.83, for a total transaction of $374,779.35. Following the completion of the transaction, the chief financial officer now owns 38,996 shares in the company, valued at approximately $2,684,094.68. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Scott Fitzgerald sold 3,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $64.38, for a total transaction of $193,140.00. Following the completion of the sale, the chief marketing officer now directly owns 39,212 shares of the company’s stock, valued at $2,524,468.56. The trade was a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,827 shares of company stock worth $11,825,658. Corporate insiders own 13.02% of the company’s stock.

Institutional Investors Weigh In On Intapp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. bought a new position in shares of Intapp in the 4th quarter worth $25,000. Global Retirement Partners LLC bought a new position in shares of Intapp in the 4th quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new position in Intapp during the fourth quarter valued at $32,000. Johnson Financial Group Inc. boosted its holdings in Intapp by 273.8% in the fourth quarter. Johnson Financial Group Inc. now owns 826 shares of the company’s stock worth $53,000 after acquiring an additional 605 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Intapp during the third quarter valued at $54,000. 89.96% of the stock is currently owned by institutional investors.

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.