Graham Capital Management L.P. Reduces Holdings in Intapp, Inc. (NASDAQ:INTA)

Graham Capital Management L.P. trimmed its stake in Intapp, Inc. (NASDAQ:INTA - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,827 shares of the company's stock after selling 5,146 shares during the period. Graham Capital Management L.P.'s holdings in Intapp were worth $694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Intapp by 11.8% in 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. Invesco Ltd. grew its stake in shares of Intapp by 6,506.1% during the fourth quarter. Invesco Ltd. now owns 1,980,506 shares of the company's stock worth $126,931,000 after acquiring an additional 1,950,526 shares during the last quarter. Capital World Investors increased its holdings in shares of Intapp by 30.3% during the fourth quarter. Capital World Investors now owns 1,701,939 shares of the company's stock valued at $109,077,000 after acquiring an additional 395,804 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Intapp by 4.0% during the fourth quarter. Alliancebernstein L.P. now owns 1,654,866 shares of the company's stock valued at $106,060,000 after acquiring an additional 63,443 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Intapp by 18.6% in the 4th quarter. Geode Capital Management LLC now owns 1,247,247 shares of the company's stock valued at $79,953,000 after purchasing an additional 196,010 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Intapp Stock Performance

Shares of NASDAQ:INTA traded up $1.35 during trading on Friday, reaching $58.28. The stock had a trading volume of 876,977 shares, compared to its average volume of 646,554. The business has a fifty day moving average price of $56.01 and a 200-day moving average price of $61.83. Intapp, Inc. has a 1-year low of $31.08 and a 1-year high of $77.74. The stock has a market cap of $4.72 billion, a PE ratio of -200.96 and a beta of 0.84.

Intapp (NASDAQ:INTA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. Intapp had a negative net margin of 4.78% and a negative return on equity of 1.86%. The firm had revenue of $129.07 million for the quarter, compared to the consensus estimate of $128.84 million. During the same period last year, the firm posted $0.14 earnings per share. The company's revenue for the quarter was up 16.7% on a year-over-year basis. Sell-side analysts expect that Intapp, Inc. will post -0.14 earnings per share for the current year.

Insider Activity

In related news, insider Thad Jampol sold 20,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $57.15, for a total value of $1,143,000.00. Following the completion of the transaction, the insider now directly owns 857,250 shares in the company, valued at approximately $48,991,837.50. This represents a 2.28% decrease in their ownership of the stock. The sale 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 stock was sold at an average price of $60.00, for a total value of $117,720.00. Following the sale, the insider now directly owns 182,462 shares of the company's stock, valued at approximately $10,947,720. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 279,755 shares of company stock valued at $17,372,011 in the last 90 days. Company insiders own 13.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on INTA shares. Barclays dropped their price objective on shares of Intapp from $68.00 to $60.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. UBS Group cut their price objective on Intapp from $92.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Stifel Nicolaus decreased their target price on Intapp from $75.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Piper Sandler reduced their price target on shares of Intapp from $71.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, Citigroup restated a "neutral" rating on shares of Intapp in a research note on Monday, April 21st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.89.

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.