Intapp, Inc. (NASDAQ:INTA) Short Interest Down 18.0% in October

Intapp, Inc. (NASDAQ:INTA - Get Free Report) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 2,780,000 shares, a decrease of 18.0% from the October 15th total of 3,390,000 shares. Currently, 4.0% of the company's stock are short sold. Based on an average daily trading volume, of 757,100 shares, the days-to-cover ratio is currently 3.7 days.

Analysts Set New Price Targets

Several research firms have recently commented on INTA. Truist Financial reaffirmed a "buy" rating and set a $55.00 price target (up previously from $47.00) on shares of Intapp in a research report on Tuesday, November 5th. Stifel Nicolaus boosted their price target on Intapp from $45.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Bank of America decreased their price objective on Intapp from $52.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on shares of Intapp from $52.00 to $58.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Finally, Barclays lifted their price objective on shares of Intapp from $44.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.55.

Intapp Trading Down 1.4 %

Shares of INTA traded down $0.79 during midday trading on Friday, reaching $56.13. 374,264 shares of the stock were exchanged, compared to its average volume of 698,667. The company's 50 day moving average is $49.93 and its two-hundred day moving average is $41.46. The company has a market capitalization of $4.34 billion, a P/E ratio of -193.55 and a beta of 0.64. Intapp has a 52 week low of $30.36 and a 52 week high of $60.88.

Intapp (NASDAQ:INTA - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.08. Intapp had a negative net margin of 4.74% and a negative return on equity of 2.08%. The company had revenue of $118.81 million for the quarter, compared to analysts' expectations of $117.88 million. During the same period in the prior year, the business earned ($0.20) EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that Intapp will post -0.14 EPS for the current year.

Insider Activity

In other news, Director Ralph Baxter sold 50,000 shares of Intapp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $57.10, for a total value of $2,855,000.00. Following the completion of the sale, the director now directly owns 5,624 shares in the company, valued at $321,130.40. The trade was a 89.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thad Jampol sold 31,666 shares of the business's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.09, for a total transaction of $1,554,483.94. Following the sale, the insider now owns 772,412 shares of the company's stock, valued at approximately $37,917,705.08. This represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 237,017 shares of company stock worth $12,156,222 over the last 90 days. 13.02% of the stock is currently owned by insiders.

Institutional Trading of Intapp

A number of hedge funds have recently bought and sold shares of INTA. Bamco Inc. NY bought a new stake in shares of Intapp in the 1st quarter valued at about $88,605,000. Vanguard Group Inc. boosted its stake in Intapp by 42.7% in the first quarter. Vanguard Group Inc. now owns 5,014,640 shares of the company's stock valued at $172,002,000 after acquiring an additional 1,501,091 shares in the last quarter. Luxor Capital Group LP purchased a new position in Intapp in the third quarter worth $47,837,000. Clearbridge Investments LLC acquired a new position in shares of Intapp during the first quarter worth $16,156,000. Finally, FMR LLC lifted its holdings in shares of Intapp by 7.8% during the 3rd quarter. FMR LLC now owns 5,658,957 shares of the company's stock valued at $270,668,000 after purchasing an additional 411,434 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

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.