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

Shares of Intapp, Inc. (NASDAQ:INTA) gapped down before the market opened 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 changing 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%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INTA. Raymond James restated a “market perform” rating on shares of Intapp in a report on Friday, January 3rd. Truist Financial lifted their price target on Intapp from $55.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Stifel Nicolaus boosted their price objective on Intapp from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. UBS Group raised their target price on shares of Intapp from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Monday. Finally, Barclays boosted their price target on shares of Intapp from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday. Four investment 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 currently has an average rating of “Moderate Buy” and an average target price of $66.45.

Insider Activity at Intapp

In other news, insider Thad Jampol sold 20,000 shares of the stock in a transaction 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 transaction, the insider now owns 828,197 shares in the company, valued at $51,223,984.45. This represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John T. Hall sold 70,986 shares of Intapp stock in a transaction on Monday, December 16th. The shares were 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 directly owns 5,026,096 shares of the company’s stock, valued at approximately $345,946,187.68. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 316,846 shares of company stock valued at $20,158,913. Insiders own 13.02% of the company’s stock.

Hedge Funds Weigh In On Intapp

Several hedge funds have recently bought and sold shares of INTA. Raleigh Capital Management Inc. bought a new stake in shares of Intapp during the 4th quarter worth $25,000. Global Retirement Partners LLC acquired a new position in Intapp during the 4th quarter worth $25,000. Farther Finance Advisors LLC grew its position in shares of Intapp by 1,054.0% in the third quarter. Farther Finance Advisors LLC now owns 577 shares of the company’s stock valued at $28,000 after purchasing an additional 527 shares during the last quarter. Quest Partners LLC bought a new position in shares of Intapp in the third quarter worth about $54,000. Finally, Financial Management Professionals Inc. acquired a new position in shares of Intapp during the 3rd quarter worth about $57,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Intapp Stock Performance

The stock has a market cap of $5.62 billion, a P/E ratio of -250.41 and a beta of 0.74. The firm has a 50 day moving average of $66.96 and a two-hundred day moving average of $53.76.

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.