Thoroughbred Financial Services LLC Purchases 7,729 Shares of Intapp, Inc. (NASDAQ:INTA)

Key Points

• Thoroughbred Financial Services LLC increased its holdings in Intapp, Inc. by 128% during the first quarter, bringing its total to $803,000.
• Analysts have recently adjusted their price targets for Intapp, with ranges from $44.00 to $83.00, reflecting varied sentiment in the market.
• Intapp's stock traded down to $36.94 recently, showing a decrease from its 52-week high of $77.74, signaling potential volatility in its market position.

Thoroughbred Financial Services LLC boosted its stake in shares of Intapp, Inc. (NASDAQ:INTA - Free Report) by 128.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,768 shares of the company's stock after acquiring an additional 7,729 shares during the quarter. Thoroughbred Financial Services LLC's holdings in Intapp were worth $803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Jefferies Financial Group Inc. bought a new stake in shares of Intapp during the 1st quarter valued at $924,000. Wells Fargo & Company MN grew its stake in shares of Intapp by 79.4% in the fourth quarter. Wells Fargo & Company MN now owns 30,607 shares of the company's stock worth $1,962,000 after acquiring an additional 13,543 shares during the period. Rhumbline Advisers lifted its holdings in Intapp by 7.2% in the first quarter. Rhumbline Advisers now owns 78,398 shares of the company's stock valued at $4,577,000 after acquiring an additional 5,257 shares during the period. Bank of New York Mellon Corp grew its position in shares of Intapp by 61.9% during the 1st quarter. Bank of New York Mellon Corp now owns 264,088 shares of the company's stock valued at $15,417,000 after acquiring an additional 101,004 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Intapp by 629.2% during the first quarter. Victory Capital Management Inc. now owns 63,089 shares of the company's stock valued at $3,683,000 after purchasing an additional 54,437 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Insider Activity at Intapp

In other 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David H. Morton, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $55.02, for a total value of $550,200.00. Following the completion of the transaction, the chief financial officer directly owned 32,739 shares in the company, valued at approximately $1,801,299.78. This trade represents a 23.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,913 shares of company stock valued at $3,974,734. Company insiders own 13.02% of the company's stock.

Intapp Price Performance

Shares of INTA traded down $0.28 during midday trading on Monday, hitting $36.66. The stock had a trading volume of 409,554 shares, compared to its average volume of 673,160. Intapp, Inc. has a 1 year low of $32.28 and a 1 year high of $77.74. The stock's 50 day moving average is $47.85 and its 200 day moving average is $55.97. The firm has a market cap of $2.97 billion, a PE ratio of -152.23, a price-to-earnings-growth ratio of 7.81 and a beta of 0.73.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup lowered their price objective on Intapp from $66.00 to $53.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Piper Sandler upgraded shares of Intapp to a "neutral" rating and set a $55.00 target price on the stock in a research note on Tuesday, June 24th. Barclays cut Intapp from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $60.00 to $44.00 in a report on Monday, July 14th. UBS Group dropped their price objective on Intapp from $92.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus decreased their target price on Intapp from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $60.11.

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.