Intapp, Inc. (NASDAQ:INTA) Sees Large Growth in Short Interest

Intapp, Inc. (NASDAQ:INTA) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 3,560,000 shares, an increase of 5.0% from the August 31st total of 3,390,000 shares. Approximately 5.3% of the shares of the company are sold short. Based on an average daily trading volume, of 649,800 shares, the days-to-cover ratio is currently 5.5 days.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INTA shares. Oppenheimer reiterated 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 $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Barclays boosted their target price on shares of Intapp from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and set a $46.00 target price on shares of Intapp in a research note on Wednesday, August 14th. Finally, UBS Group lifted their price target on shares of Intapp from $49.00 to $50.00 and gave the company a “buy” rating in a report 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’s stock. According to data from MarketBeat, Intapp currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Insiders Place Their Bets

In other news, COO Donald F. Coleman sold 5,000 shares of Intapp stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $34.94, for a total transaction of $174,700.00. Following the transaction, the chief operating officer now directly owns 648,411 shares of the company’s stock, valued at approximately $22,655,480.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Michele Murgel sold 1,252 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $62,600.00. Following the completion of the transaction, the insider now owns 152,702 shares of the company’s stock, valued at approximately $7,635,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Donald F. Coleman sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $34.94, for a total value of $174,700.00. Following the sale, the chief operating officer now directly owns 648,411 shares in the company, valued at $22,655,480.34. The disclosure for this sale can be found here. Insiders sold a total of 141,239 shares of company stock worth $6,674,331 over the last quarter. 36.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clearbridge Investments LLC raised its stake in shares of Intapp by 64.0% in the second quarter. Clearbridge Investments LLC now owns 772,255 shares of the company’s stock valued at $28,319,000 after acquiring an additional 301,238 shares during the period. Susquehanna Fundamental Investments LLC grew its holdings in Intapp by 384.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 69,718 shares of the company’s stock valued at $2,557,000 after purchasing an additional 55,318 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Intapp by 13.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,551 shares of the company’s stock worth $900,000 after purchasing an additional 2,891 shares during the period. Millennium Management LLC lifted its stake in Intapp by 30.1% in the second quarter. Millennium Management LLC now owns 357,437 shares of the company’s stock worth $13,107,000 after purchasing an additional 82,761 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Intapp by 18.3% during the second quarter. Squarepoint Ops LLC now owns 135,517 shares of the company’s stock valued at $4,969,000 after buying an additional 20,972 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Intapp Stock Up 1.3 %

INTA stock opened at $48.47 on Wednesday. Intapp has a 52 week low of $30.36 and a 52 week high of $51.80. The firm has a market capitalization of $3.56 billion, a P/E ratio of -79.46 and a beta of 0.65. The company has a fifty day simple moving average of $42.06 and a two-hundred day simple moving average of $37.09.

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