Wellington Management Group LLP Reduces Stock Position in Intapp, Inc. (NASDAQ:INTA)

Wellington Management Group LLP trimmed its position in Intapp, Inc. (NASDAQ:INTA) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 851,139 shares of the company’s stock after selling 144,608 shares during the quarter. Wellington Management Group LLP owned about 1.07% of Intapp worth $54,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. purchased a new position in Intapp during the 4th quarter worth approximately $291,000. Venturi Wealth Management LLC acquired a new stake in shares of Intapp in the fourth quarter worth $305,000. Barclays PLC raised its holdings in shares of Intapp by 90.1% during the third quarter. Barclays PLC now owns 106,781 shares of the company’s stock worth $5,108,000 after purchasing an additional 50,607 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Intapp during the fourth quarter valued at $378,000. Finally, Truist Financial Corp purchased a new stake in Intapp in the fourth quarter valued at $349,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Intapp Stock Down 6.8 %

INTA stock opened at $50.95 on Friday. Intapp, Inc. has a 52 week low of $30.36 and a 52 week high of $77.74. The firm has a 50-day simple moving average of $65.12 and a 200-day simple moving average of $60.73. The stock has a market capitalization of $4.05 billion, a P/E ratio of -175.68 and a beta of 0.82.

Intapp (NASDAQ:INTA) last released its earnings results on Tuesday, February 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.25). Intapp had a negative return on equity of 1.86% and a negative net margin of 4.78%. On average, analysts expect that Intapp, Inc. will post -0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INTA. Stifel Nicolaus lifted their price objective on Intapp from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. UBS Group upped their price objective on Intapp from $89.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Barclays lifted their target price on shares of Intapp from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Piper Sandler reissued an “overweight” rating and set a $71.00 price target (up from $60.00) on shares of Intapp in a report on Tuesday, February 4th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $78.00 price objective (down previously from $87.00) on shares of Intapp in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.45.

Insider Buying and Selling

In related news, CEO John T. Hall sold 33,227 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $68.83, for a total transaction of $2,287,014.41. Following the completion of the sale, the chief executive officer now directly owns 5,258,576 shares in the company, valued at approximately $361,947,786.08. This trade represents a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michele Murgel sold 7,531 shares of Intapp stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $68.83, for a total transaction of $518,358.73. Following the transaction, the insider now directly owns 223,945 shares in the company, valued at $15,414,134.35. This trade represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 294,755 shares of company stock worth $18,325,761. 13.02% of the stock is owned by corporate insiders.

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.