Intapp (NASDAQ:INTA) Shares Gap Down on Disappointing Earnings

Intapp, Inc. (NASDAQ:INTA) shares gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $73.51, but opened at $65.00. Intapp shares last traded at $61.19, with a volume of 513,778 shares trading hands.

The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.25). Intapp had a negative net margin of 4.74% and a negative return on equity of 2.08%.

Analyst Ratings Changes

Several equities research analysts recently commented on INTA shares. Truist Financial boosted their price target on shares of Intapp from $55.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup reissued a “neutral” rating and issued a $78.00 price target (down previously from $87.00) on shares of Intapp in a report on Thursday, January 16th. Raymond James reissued a “market perform” rating on shares of Intapp in a report on Friday, January 3rd. JPMorgan Chase & Co. upped their target price on shares of Intapp from $58.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Piper Sandler reissued an “overweight” rating and set a $71.00 price target (up previously from $60.00) on shares of Intapp in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intapp currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.45.

Insider Activity

In related news, CEO John T. Hall sold 44,009 shares of Intapp stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $59.30, for a total transaction of $2,609,733.70. Following the completion of the sale, the chief executive officer now owns 5,093,692 shares in the company, valued at approximately $302,055,935.60. This trade represents a 0.86 % 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 316,846 shares of company stock worth $20,158,913 over the last 90 days. 13.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Intapp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Luxor Capital Group LP acquired a new position in shares of Intapp in the 3rd quarter valued at about $47,837,000. FMR LLC lifted its stake in shares of Intapp by 7.8% in the 3rd quarter. FMR LLC now owns 5,658,957 shares of the company’s stock valued at $270,668,000 after purchasing an additional 411,434 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of 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 purchasing an additional 343,275 shares in the last quarter. Praesidium Investment Management Company LLC lifted its stake in shares of Intapp by 15.3% in the 3rd quarter. Praesidium Investment Management Company LLC now owns 1,930,095 shares of the company’s stock valued at $92,316,000 after purchasing an additional 256,327 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Intapp in the 4th quarter valued at about $12,870,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Intapp Trading Down 2.1 %

The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of -245.07 and a beta of 0.74. The firm has a 50 day moving average price of $67.17 and a two-hundred day moving average price of $53.88.

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.