Renaissance Technologies LLC Lowers Stake in Intapp, Inc. (NASDAQ:INTA)

Renaissance Technologies LLC lessened its position in Intapp, Inc. (NASDAQ:INTA) by 27.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 257,700 shares of the company’s stock after selling 97,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Intapp were worth $9,450,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. J.Safra Asset Management Corp increased its position in shares of Intapp by 634.0% during the second quarter. J.Safra Asset Management Corp now owns 712 shares of the company’s stock worth $26,000 after acquiring an additional 615 shares during the period. Advisors Asset Management Inc. increased its holdings in Intapp by 239.1% during the 1st quarter. Advisors Asset Management Inc. now owns 824 shares of the company’s stock worth $28,000 after purchasing an additional 581 shares during the period. Blue Trust Inc. purchased a new stake in Intapp during the 2nd quarter worth about $30,000. Comerica Bank raised its position in Intapp by 218.4% in the 1st quarter. Comerica Bank now owns 1,261 shares of the company’s stock valued at $43,000 after purchasing an additional 865 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Intapp by 164.6% in the 4th quarter. Assetmark Inc. now owns 1,310 shares of the company’s stock valued at $50,000 after buying an additional 815 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Intapp Stock Performance

Intapp stock opened at $50.30 on Wednesday. The company has a market capitalization of $3.69 billion, a P/E ratio of -82.46 and a beta of 0.65. Intapp, Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $50.78. The stock has a 50-day simple moving average of $40.81 and a 200-day simple moving average of $36.57.

Intapp (NASDAQ:INTA) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $114.38 million during the quarter, compared to analysts’ expectations of $111.58 million. Intapp had a negative return on equity of 5.36% and a negative net margin of 7.44%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) earnings per share. As a group, analysts forecast that Intapp, Inc. will post -0.15 earnings per share for the current year.

Analyst Ratings Changes

INTA has been the topic of a number of recent research reports. Barclays upped their target price on shares of Intapp from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Oppenheimer reissued a “market perform” rating on shares of Intapp in a research report on Monday, July 8th. Citigroup lifted their price objective on shares of Intapp from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Piper Sandler reissued an “overweight” rating and issued a $46.00 target price on shares of Intapp in a report on Wednesday, August 14th. Finally, UBS Group raised their price target on Intapp from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Intapp currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.78.

Insider Buying and Selling

In other Intapp news, COO Donald F. Coleman sold 5,000 shares of Intapp stock in a transaction on Monday, July 1st. The shares were sold at an average price of $36.49, for a total value of $182,450.00. Following the transaction, the chief operating officer now directly owns 648,411 shares in the company, valued at $23,660,517.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intapp news, insider Thad Jampol sold 31,666 shares of Intapp stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.09, for a total value of $1,554,483.94. Following the transaction, the insider now directly owns 772,412 shares in the company, valued at approximately $37,917,705.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Donald F. Coleman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $36.49, for a total value of $182,450.00. Following the completion of the transaction, the chief operating officer now directly owns 648,411 shares in the company, valued at approximately $23,660,517.39. The disclosure for this sale can be found here. Insiders sold a total of 114,669 shares of company stock worth $5,295,562 in the last 90 days. Company insiders own 36.56% of the company’s stock.

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.