Corebridge Financial Inc. Increases Position in Intapp, Inc. (NASDAQ:INTA)

Corebridge Financial Inc. raised its holdings in Intapp, Inc. (NASDAQ:INTA) by 27.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 26,515 shares of the company’s stock after acquiring an additional 5,642 shares during the period. Corebridge Financial Inc.’s holdings in Intapp were worth $1,699,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new position in Intapp in the fourth quarter valued at $291,000. Venturi Wealth Management LLC purchased a new stake in Intapp in the 4th quarter valued at about $305,000. Barclays PLC grew its holdings in Intapp by 90.1% in the 3rd quarter. Barclays PLC now owns 106,781 shares of the company’s stock valued at $5,108,000 after buying an additional 50,607 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Intapp during the 4th quarter worth about $378,000. Finally, Truist Financial Corp acquired a new stake in shares of Intapp in the fourth quarter worth approximately $349,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Raymond James reaffirmed a “market perform” rating on shares of Intapp in a research report on Friday, January 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $71.00 target price (up from $60.00) on shares of Intapp in a research report on Tuesday, February 4th. Truist Financial lifted their target price on Intapp from $55.00 to $77.00 and gave the company a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on Intapp from $58.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $78.00 price objective (down from $87.00) on shares of Intapp in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.45.

Insider Activity

In other news, insider Thad Jampol sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $61.85, for a total transaction of $1,237,000.00. Following the completion of the sale, the insider now owns 828,197 shares of the company’s stock, valued at approximately $51,223,984.45. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michele Murgel sold 1,962 shares of Intapp stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $60.00, for a total transaction of $117,720.00. Following the completion of the sale, the insider now owns 182,462 shares of the company’s stock, valued at approximately $10,947,720. This trade represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 181,827 shares of company stock worth $11,632,518 over the last ninety days. Corporate insiders own 13.02% of the company’s stock.

Intapp Stock Performance

Intapp stock opened at $59.55 on Thursday. The firm has a market capitalization of $4.73 billion, a PE ratio of -205.34 and a beta of 0.76. Intapp, Inc. has a one year low of $30.36 and a one year high of $77.74. The stock’s 50 day moving average price is $65.82 and its 200 day moving average price is $60.66.

Intapp (NASDAQ:INTA) last announced its earnings results on Tuesday, February 4th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.25). Intapp had a negative net margin of 4.78% and a negative return on equity of 1.86%. On average, analysts forecast that Intapp, Inc. will post -0.14 earnings per share for the current fiscal year.

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.