Jane Street Group LLC Cuts Holdings in Intapp, Inc. (NASDAQ:INTA)

Jane Street Group LLC decreased its position in Intapp, Inc. (NASDAQ:INTA) by 85.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,523 shares of the company’s stock after selling 184,729 shares during the period. Jane Street Group LLC’s holdings in Intapp were worth $1,508,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of INTA. Bank of New York Mellon Corp increased its position in shares of Intapp by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 145,205 shares of the company’s stock valued at $5,325,000 after acquiring an additional 10,789 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Intapp by 99.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,813 shares of the company’s stock valued at $397,000 after purchasing an additional 5,394 shares during the period. nVerses Capital LLC purchased a new stake in shares of Intapp during the 2nd quarter valued at $147,000. Rhumbline Advisers raised its stake in shares of Intapp by 9.6% during the 2nd quarter. Rhumbline Advisers now owns 54,656 shares of the company’s stock worth $2,004,000 after purchasing an additional 4,794 shares during the period. Finally, George Kaiser Family Foundation boosted its holdings in shares of Intapp by 46.2% in the 2nd quarter. George Kaiser Family Foundation now owns 103,970 shares of the company’s stock worth $3,813,000 after buying an additional 32,848 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Insider Activity

In other news, CEO John T. Hall sold 70,986 shares of Intapp stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $68.83, for a total transaction of $4,885,966.38. Following the completion of the sale, the chief executive officer now owns 5,026,096 shares in the company, valued at approximately $345,946,187.68. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David Benjamin Harrison sold 22,373 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $68.87, for a total transaction of $1,540,828.51. The disclosure for this sale can be found here. Insiders sold 409,624 shares of company stock worth $24,909,164 in the last three months. Corporate insiders own 13.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on INTA. Citigroup raised their price objective on shares of Intapp from $63.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Barclays lifted their price target on shares of Intapp from $44.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler reissued an “overweight” rating and set a $60.00 price objective (up from $46.00) on shares of Intapp in a report on Tuesday, November 5th. Stifel Nicolaus boosted their target price on Intapp from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upped their price target on Intapp from $58.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.64.

Intapp Stock Performance

Shares of INTA opened at $68.00 on Friday. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of -234.48 and a beta of 0.74. Intapp, Inc. has a 52-week low of $30.36 and a 52-week high of $71.34. The stock’s 50-day simple moving average is $59.65 and its 200 day simple moving average is $47.13.

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

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.