Jennison Associates LLC Acquires 13,577 Shares of Intapp, Inc. (NASDAQ:INTA)

Jennison Associates LLC lifted its stake in shares of Intapp, Inc. (NASDAQ:INTA - Free Report) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,550,010 shares of the company's stock after acquiring an additional 13,577 shares during the quarter. Jennison Associates LLC owned about 1.95% of Intapp worth $90,490,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in Intapp by 6,506.1% during the 4th quarter. Invesco Ltd. now owns 1,980,506 shares of the company's stock worth $126,931,000 after purchasing an additional 1,950,526 shares in the last quarter. Vanguard Group Inc. grew its position in Intapp by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 6,368,216 shares of the company's stock worth $408,139,000 after purchasing an additional 672,832 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Intapp by 408.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 720,994 shares of the company's stock worth $46,209,000 after purchasing an additional 579,075 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Intapp during the 4th quarter valued at $30,563,000. Finally, Capital World Investors boosted its stake in shares of Intapp by 30.3% during the 4th quarter. Capital World Investors now owns 1,701,939 shares of the company's stock valued at $109,077,000 after buying an additional 395,804 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

Intapp Stock Performance

NASDAQ:INTA traded down $0.95 during trading hours on Friday, hitting $42.54. The stock had a trading volume of 784,728 shares, compared to its average volume of 659,983. Intapp, Inc. has a one year low of $31.08 and a one year high of $77.74. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -177.25, a P/E/G ratio of 7.92 and a beta of 0.76. The business's 50 day moving average is $52.51 and its 200-day moving average is $58.70.

Intapp (NASDAQ:INTA - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. Intapp had a negative net margin of 3.78% and a negative return on equity of 1.19%. The firm had revenue of $129.07 million during the quarter, compared to the consensus estimate of $128.84 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. The business's quarterly revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts anticipate that Intapp, Inc. will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Intapp

In related news, insider David Benjamin Harrison sold 14,275 shares of Intapp stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.01, for a total transaction of $785,267.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Donald F. Coleman sold 2,809 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $56.77, for a total transaction of $159,466.93. Following the sale, the chief operating officer directly owned 435,076 shares in the company, valued at $24,699,264.52. The trade was a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,913 shares of company stock worth $4,257,984 in the last ninety days. Insiders own 13.02% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Piper Sandler raised shares of Intapp to a "neutral" rating and set a $55.00 price objective for the company in a research note on Tuesday, June 24th. Stifel Nicolaus dropped their target price on shares of Intapp from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, July 8th. Barclays downgraded shares of Intapp from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $60.00 to $44.00 in a report on Monday, July 14th. Citigroup dropped their target price on shares of Intapp from $66.00 to $53.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, Truist Financial dropped their price objective on shares of Intapp from $80.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.11.

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.