Intapp (NASDAQ:INTA) Shares Gap Down - Should You Sell?

Shares of Intapp, Inc. (NASDAQ:INTA - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $66.98, but opened at $65.57. Intapp shares last traded at $66.66, with a volume of 71,254 shares traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INTA. Stifel Nicolaus raised their target price on shares of Intapp from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Piper Sandler reiterated an "overweight" rating and issued a $60.00 target price (up from $46.00) on shares of Intapp in a research report on Tuesday, November 5th. Citigroup restated a "neutral" rating and issued a $78.00 price target (down previously from $87.00) on shares of Intapp in a research report on Thursday. Barclays increased their price objective on shares of Intapp from $44.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Finally, Raymond James restated a "market perform" rating on shares of Intapp in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.82.

Intapp Stock Performance

The company's fifty day moving average price is $63.66 and its 200-day moving average price is $50.25. The stock has a market cap of $5.22 billion, a P/E ratio of -232.69 and a beta of 0.73.

Intapp (NASDAQ:INTA - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $118.81 million during the quarter, compared to the consensus estimate of $117.88 million. During the same quarter last year, the firm earned ($0.20) earnings per share. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. Analysts anticipate that Intapp, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Intapp

In related news, insider Thad Jampol sold 20,174 shares of Intapp stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $59.30, for a total transaction of $1,196,318.20. Following the completion of the sale, the insider now owns 803,400 shares in the company, valued at $47,641,620. This trade represents a 2.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Scott Fitzgerald sold 3,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $64.38, for a total transaction of $193,140.00. Following the completion of the transaction, the chief marketing officer now owns 39,212 shares in the company, valued at $2,524,468.56. This represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 402,624 shares of company stock worth $24,954,154 in the last quarter. 13.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INTA. Raleigh Capital Management Inc. bought a new stake in shares of Intapp in the 4th quarter valued at about $25,000. Janney Montgomery Scott LLC bought a new position in Intapp in the fourth quarter worth approximately $378,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Intapp during the fourth quarter worth $182,000. Harbor Capital Advisors Inc. boosted its position in Intapp by 127.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 12,600 shares of the company's stock valued at $808,000 after acquiring an additional 7,061 shares in the last quarter. Finally, Diversified Trust Co acquired a new stake in Intapp in the fourth quarter worth about $264,000. 89.96% of the stock is currently owned by institutional investors.

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.