Intapp (NASDAQ:INTA) Shares Gap Up to $33.15

Intapp, Inc. (NASDAQ:INTA) shares gapped up before the market opened on Wednesday . The stock had previously closed at $33.15, but opened at $35.00. Intapp shares last traded at $35.36, with a volume of 269,329 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INTA. Oppenheimer reduced their price objective on shares of Intapp from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. BTIG Research decreased their price objective on Intapp from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday. Stifel Nicolaus dropped their target price on Intapp from $47.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Piper Sandler restated an “overweight” rating and set a $52.00 target price on shares of Intapp in a research report on Monday, February 26th. Finally, Barclays lowered their price target on Intapp from $47.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Intapp has an average rating of “Buy” and an average price target of $46.88.

Intapp Trading Up 2.2 %

The firm has a market cap of $2.70 billion, a P/E ratio of -46.19 and a beta of 0.56. The firm’s 50 day moving average is $33.24 and its two-hundred day moving average is $37.13.

Intapp (NASDAQ:INTA) last posted its earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.05. The firm had revenue of $103.93 million for the quarter, compared to analyst estimates of $103.17 million. Intapp had a negative return on equity of 12.98% and a negative net margin of 13.81%. Analysts predict that Intapp, Inc. will post -0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ralph Baxter sold 30,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $41.04, for a total value of $1,231,200.00. Following the sale, the director now owns 5,624 shares of the company’s stock, valued at $230,808.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Intapp news, insider Thad Jampol sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $35.26, for a total value of $705,200.00. Following the completion of the transaction, the insider now directly owns 727,759 shares in the company, valued at $25,660,782.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ralph Baxter sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $41.04, for a total value of $1,231,200.00. Following the sale, the director now owns 5,624 shares in the company, valued at approximately $230,808.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,111,704 shares of company stock worth $258,193,485. Corporate insiders own 36.56% of the company’s stock.

Institutional Investors Weigh In On Intapp

Several hedge funds have recently bought and sold shares of INTA. FMR LLC raised its position in shares of Intapp by 5.6% in the third quarter. FMR LLC now owns 4,166,230 shares of the company’s stock valued at $139,652,000 after purchasing an additional 221,256 shares during the period. Vanguard Group Inc. lifted its position in Intapp by 25.1% during the fourth quarter. Vanguard Group Inc. now owns 3,513,549 shares of the company’s stock worth $133,585,000 after acquiring an additional 704,268 shares during the last quarter. Praesidium Investment Management Company LLC boosted its holdings in shares of Intapp by 9.4% during the fourth quarter. Praesidium Investment Management Company LLC now owns 1,466,281 shares of the company’s stock worth $55,748,000 after acquiring an additional 125,455 shares during the period. Ameriprise Financial Inc. grew its position in shares of Intapp by 44.8% in the third quarter. Ameriprise Financial Inc. now owns 1,363,074 shares of the company’s stock valued at $45,690,000 after purchasing an additional 422,016 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Intapp by 12.2% during the fourth quarter. Jennison Associates LLC now owns 1,293,014 shares of the company’s stock worth $49,160,000 after purchasing an additional 140,697 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.