Jennison Associates LLC Reduces Stake in Intapp, Inc. (NASDAQ:INTA)

Jennison Associates LLC reduced its holdings in Intapp, Inc. (NASDAQ:INTA - Free Report) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,538,286 shares of the company's stock after selling 121,145 shares during the period. Jennison Associates LLC owned about 2.00% of Intapp worth $73,576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in INTA. Farther Finance Advisors LLC increased its holdings in Intapp by 1,054.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 577 shares of the company's stock worth $28,000 after acquiring an additional 527 shares in the last quarter. J.Safra Asset Management Corp increased its stake in shares of Intapp by 634.0% during the second quarter. J.Safra Asset Management Corp now owns 712 shares of the company's stock worth $26,000 after purchasing an additional 615 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Intapp by 239.1% during the 1st quarter. Advisors Asset Management Inc. now owns 824 shares of the company's stock worth $28,000 after purchasing an additional 581 shares during the last quarter. Blue Trust Inc. purchased a new position in Intapp in the 2nd quarter valued at about $30,000. Finally, Quest Partners LLC acquired a new stake in Intapp in the 3rd quarter worth about $54,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on INTA shares. JPMorgan Chase & Co. increased their target price on Intapp from $52.00 to $58.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Citigroup increased their price objective on Intapp from $52.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Barclays raised their price objective on Intapp from $44.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Raymond James upped their target price on shares of Intapp from $46.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Finally, Truist Financial reissued a "buy" rating and issued a $55.00 price target (up from $47.00) on shares of Intapp in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Intapp presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.55.

Intapp Trading Up 1.9 %

Shares of Intapp stock opened at $59.50 on Thursday. Intapp, Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $60.88. The stock has a 50 day moving average of $50.72 and a 200 day moving average of $41.94.

Intapp (NASDAQ:INTA - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $117.88 million. During the same period last year, the business earned ($0.20) earnings per share. The business's revenue for the quarter was up 17.0% on a year-over-year basis. Research analysts predict that Intapp, Inc. will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In other Intapp news, COO Donald F. Coleman sold 35,778 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $54.23, for a total transaction of $1,940,240.94. Following the sale, the chief operating officer now directly owns 668,239 shares in the company, valued at $36,238,600.97. This represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ralph Baxter sold 50,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $57.10, for a total transaction of $2,855,000.00. Following the sale, the director now directly owns 5,624 shares in the company, valued at $321,130.40. This represents a 89.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 237,017 shares of company stock worth $12,156,222 over the last ninety days. Corporate insiders own 13.02% 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.