Fred Alger Management LLC Lowers Holdings in Intapp, Inc. (NASDAQ:INTA)

Fred Alger Management LLC decreased its holdings in shares of Intapp, Inc. (NASDAQ:INTA - Free Report) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,936 shares of the company's stock after selling 50,337 shares during the quarter. Fred Alger Management LLC owned 0.60% of Intapp worth $30,503,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. bought a new position in shares of Intapp during the 4th quarter valued at about $291,000. Venturi Wealth Management LLC purchased a new stake in shares of Intapp in the 4th quarter valued at $305,000. Charles Schwab Investment Management Inc. raised its position in Intapp by 17.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 448,666 shares of the company's stock worth $28,755,000 after purchasing an additional 67,694 shares during the period. Wells Fargo & Company MN lifted its stake in 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 purchasing an additional 13,543 shares during the last quarter. Finally, Barclays PLC boosted its position in Intapp by 90.1% during the third quarter. Barclays PLC now owns 106,781 shares of the company's stock valued at $5,108,000 after buying an additional 50,607 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on INTA. UBS Group reduced their price target on Intapp from $92.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday. Stifel Nicolaus lowered their price target on shares of Intapp from $75.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Citigroup reissued a "neutral" rating on shares of Intapp in a report on Monday, April 21st. Barclays dropped their target price on shares of Intapp from $68.00 to $60.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Piper Sandler reduced their price target on Intapp from $71.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $66.89.

Insiders Place Their Bets

In other news, CEO John T. Hall sold 33,227 shares of Intapp stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $68.83, for a total transaction of $2,287,014.41. Following the completion of the sale, the chief executive officer now owns 5,258,576 shares of the company's stock, valued at approximately $361,947,786.08. The trade was a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michele Murgel sold 1,962 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $60.00, for a total value of $117,720.00. Following the transaction, the insider now owns 182,462 shares in the company, valued at approximately $10,947,720. This represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,755 shares of company stock valued at $17,372,011 over the last ninety days. 13.02% of the stock is owned by insiders.

Intapp Price Performance

Shares of NASDAQ:INTA traded down $0.65 during mid-day trading on Friday, reaching $53.86. 513,096 shares of the company traded hands, compared to its average volume of 646,713. The company's 50 day moving average price is $56.39 and its 200-day moving average price is $61.60. The firm has a market cap of $4.36 billion, a PE ratio of -185.72 and a beta of 0.84. Intapp, Inc. has a 52 week low of $31.08 and a 52 week high of $77.74.

Intapp (NASDAQ:INTA - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The firm had revenue of $129.07 million during the quarter, compared to analyst estimates of $128.84 million. Intapp had a negative net margin of 4.78% and a negative return on equity of 1.86%. Intapp's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share. On average, research analysts predict that Intapp, Inc. will post -0.14 earnings per share for the current fiscal year.

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.