Fred Alger Management LLC Reduces Stock Position in Intapp, Inc. $INTA

Key Points

• Fred Alger Management LLC reduced its stake in Intapp, Inc. by 14.9%, selling 70,708 shares, and now owns approximately 0.50% of the company valued at $23,657,000 as of its latest SEC filing.
• In the first quarter, several hedge funds increased their holdings in Intapp, with Quarry LP growing its stake by 1,155.4%, indicating significant interest from institutional investors.
• Intapp announced a $150 million share buyback plan, suggesting management believes the stock is undervalued, amidst mixed ratings from analysts and a recent decline in stock price.

Fred Alger Management LLC lessened its stake in shares of Intapp, Inc. (NASDAQ:INTA - Free Report) by 14.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,228 shares of the company's stock after selling 70,708 shares during the quarter. Fred Alger Management LLC owned approximately 0.50% of Intapp worth $23,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTA. Farther Finance Advisors LLC grew its holdings in Intapp by 74.2% in the 1st quarter. Farther Finance Advisors LLC now owns 526 shares of the company's stock valued at $31,000 after buying an additional 224 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Intapp in the 1st quarter valued at about $36,000. Quarry LP grew its holdings in Intapp by 1,155.4% in the 1st quarter. Quarry LP now owns 703 shares of the company's stock valued at $41,000 after buying an additional 647 shares during the period. Nisa Investment Advisors LLC grew its holdings in Intapp by 414.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 803 shares of the company's stock valued at $47,000 after buying an additional 647 shares during the period. Finally, CWM LLC grew its holdings in Intapp by 27.0% in the 1st quarter. CWM LLC now owns 1,003 shares of the company's stock valued at $59,000 after buying an additional 213 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

Insider Buying and Selling

In other Intapp news, insider David Benjamin Harrison sold 6,690 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $42.06, for a total value of $281,381.40. Following the transaction, the insider directly owned 12,447 shares of the company's stock, valued at $523,520.82. This represents a 34.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michele Murgel sold 5,425 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $42.06, for a total value of $228,175.50. Following the completion of the transaction, the insider directly owned 224,522 shares in the company, valued at approximately $9,443,395.32. The trade was a 2.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,649 shares of company stock worth $4,224,079 over the last 90 days. 13.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on INTA. Stifel Nicolaus lowered their price target on Intapp from $65.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. UBS Group lowered their price target on Intapp from $83.00 to $72.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Barclays boosted their target price on Intapp from $44.00 to $47.00 and gave the stock an "underweight" rating in a report on Wednesday, August 13th. Piper Sandler upgraded Intapp to a "neutral" rating and set a $55.00 target price for the company in a report on Tuesday, June 24th. Finally, Wall Street Zen cut Intapp from a "buy" rating to a "hold" rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $60.63.

Intapp Stock Down 1.2%

NASDAQ INTA opened at $44.70 on Monday. The stock has a market cap of $3.67 billion, a PE ratio of -186.25, a P/E/G ratio of 19.05 and a beta of 0.74. Intapp, Inc. has a fifty-two week low of $35.51 and a fifty-two week high of $77.74. The business has a 50 day moving average price of $43.29 and a two-hundred day moving average price of $52.00.

Intapp (NASDAQ:INTA - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. The firm had revenue of $135.04 million during the quarter, compared to analysts' expectations of $132.07 million. Intapp had a negative return on equity of 0.89% and a negative net margin of 3.61%.Intapp's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. Intapp has set its Q1 2026 guidance at 0.180-0.200 EPS. FY 2026 guidance at 1.090-1.130 EPS. Sell-side analysts anticipate that Intapp, Inc. will post -0.14 EPS for the current fiscal year.

Intapp declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 12th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.

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