Intapp, Inc. (NASDAQ:INTA) Short Interest Up 6.1% in December

Intapp, Inc. (NASDAQ:INTA) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 2,960,000 shares, a growth of 6.1% from the November 30th total of 2,790,000 shares. Approximately 4.2% of the company’s shares are short sold. Based on an average daily volume of 631,500 shares, the short-interest ratio is currently 4.7 days.

Insider Activity

In other Intapp news, CMO Scott Fitzgerald sold 3,000 shares of Intapp stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $63.53, for a total value of $190,590.00. Following the transaction, the chief marketing officer now directly owns 42,212 shares of the company’s stock, valued at $2,681,728.36. The trade was a 6.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thad Jampol sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $45.09, for a total value of $901,800.00. Following the sale, the insider now directly owns 772,412 shares of the company’s stock, valued at approximately $34,828,057.08. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 409,624 shares of company stock valued at $24,909,164. Corporate insiders own 13.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its position in Intapp by 28.4% during the 3rd quarter. Franklin Resources Inc. now owns 456,619 shares of the company’s stock valued at $22,173,000 after purchasing an additional 100,982 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Intapp in the third quarter worth approximately $64,000. Sanctuary Advisors LLC purchased a new stake in shares of Intapp during the third quarter valued at approximately $239,000. Virtu Financial LLC bought a new stake in shares of Intapp during the third quarter valued at approximately $609,000. Finally, Geode Capital Management LLC raised its holdings in Intapp by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,051,237 shares of the company’s stock worth $50,291,000 after acquiring an additional 95,035 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

INTA has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased 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. Raymond James lifted their price objective on Intapp from $46.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $60.00 target price (up previously from $46.00) on shares of Intapp in a report on Tuesday, November 5th. Barclays boosted their price objective on shares of Intapp from $44.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Truist Financial raised their target price on shares of Intapp from $55.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.64.

Intapp Price Performance

Shares of Intapp stock opened at $64.09 on Thursday. Intapp has a 1 year low of $30.36 and a 1 year high of $71.34. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of -221.00 and a beta of 0.74. The company has a 50-day moving average of $60.57 and a 200 day moving average of $47.92.

Intapp (NASDAQ:INTA) last announced its earnings results on Monday, November 4th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Intapp had a negative net margin of 4.74% and a negative return on equity of 2.08%. The business had revenue of $118.81 million during the quarter, compared to the consensus estimate of $117.88 million. During the same quarter last year, the firm earned ($0.20) earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts anticipate that Intapp will post -0.14 EPS for the current year.

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.