Intapp, Inc. (NASDAQ:INTA) Chief Product Officer, Thad Jampol, has executed significant stock transactions, according to a recent filing with the Securities and Exchange Commission. Jampol sold a total of 15,000 shares of Intapp common stock at an average price range of $34.8079 to $35.1333, netting approximately $523,776.
The transactions took place on July 8, 2024, as outlined in the SEC filing. It was noted that the sales were conducted under a pre-arranged 10b5-1 trading plan, which allows company insiders to sell stocks at predetermined times to avoid accusations of insider trading. The plan had been established by Jampol on December 13, 2023.
In addition to the sales, Jampol also acquired 15,000 shares through the exercise of options at a price of $3.99 per share, totaling $59,850. This transaction indicates the officer’s use of options to purchase shares at a set price, which is a common practice among company executives.
Following these transactions, Jampol’s direct holdings in Intapp common stock have changed, but the exact post-transaction share count was not specified in the filing. The report also mentioned holdings by Jampol’s spouse and trusts where Jampol is a trustee, clarifying that the filing does not admit beneficial ownership of these securities for Section 16 or other purposes.
Investors often scrutinize insider transactions as they can provide insights into executives’ perspectives on the company’s current valuation and future prospects. Intapp, headquartered in Palo Alto, California, specializes in prepackaged software services and operates under the technology sector. The company’s business phone is listed as 650-852-0400 for any direct inquiries.
In other recent news, Intapp has reported strong financial results for its fiscal third quarter of 2024, with cloud Annual Recurring Revenue (ARR) growing to $274.2 million, making up 72% of total ARR. The total revenue for the quarter was $110.6 million, a 20% increase year-over-year, while SaaS and support revenue saw a 22% rise to $80.8 million. In addition, Intapp has been selected by Argonaut Private Equity for employee compliance monitoring, automating oversight of personal trading activities. On the other hand, Oppenheimer has downgraded Intapp’s stock from Outperform to Perform, citing potential challenges such as increased competition and concerns over the effectiveness of AI. These recent developments highlight Intapp’s ongoing efforts to navigate a competitive and evolving market landscape. For the upcoming Q4, Intapp projects SaaS and support revenue to be between $83.5 million and $84.5 million, and total revenue to range from $111 million to $112 million. For the full fiscal year 2024, the projections are $314.5 million to $315.5 million for SaaS and support revenue, and $427 million to $428 million for total revenue.
InvestingPro Insights
Recent market data from InvestingPro reveals a nuanced picture of Intapp, Inc. (NASDAQ:INTA), a company that specializes in prepackaged software services. Despite a challenging week where the stock price took a considerable hit, declining by 8.22%, analysts remain optimistic about the company’s future. This optimism is reflected in the fact that 10 analysts have recently revised their earnings estimates upwards for the upcoming period. This could be indicative of a potential turnaround or positive developments that may not be fully reflected in the stock’s current valuation.
Intapp is currently trading at a high Price / Book multiple of 6.42, which suggests that investors are willing to pay a premium for the company’s book value. This could be due to the company’s robust revenue growth, which stood at 23.81% over the last twelve months as of Q3 2024. Additionally, the company holds more cash than debt on its balance sheet, providing a measure of financial stability and flexibility.
However, it’s important to note that Intapp has not been profitable over the last twelve months, as evidenced by its negative P/E Ratio of -54.72. Despite this, analysts predict the company will be profitable this year, which may be a contributing factor to the positive earnings revisions mentioned earlier. Intapp does not pay a dividend to shareholders, which is typical for companies focused on growth and reinvestment.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available that could shed light on Intapp’s financial health and future prospects. To access these insights and leverage the full benefits of InvestingPro, consider using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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