Citigroup Inc. Trims Stock Holdings in Intapp, Inc. (NASDAQ:INTA)

Citigroup Inc. decreased its position in Intapp, Inc. (NASDAQ:INTAFree Report) by 82.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,303 shares of the company’s stock after selling 10,981 shares during the period. Citigroup Inc.’s holdings in Intapp were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Intapp by 60.0% in the 3rd quarter. Wellington Management Group LLP now owns 989,722 shares of the company’s stock worth $33,175,000 after acquiring an additional 371,181 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Intapp by 27.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 190,375 shares of the company’s stock worth $6,381,000 after acquiring an additional 40,444 shares during the last quarter. Scout Investments Inc. purchased a new position in Intapp in the 3rd quarter worth $5,145,000. Ameriprise Financial Inc. raised its stake in shares of Intapp by 44.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,363,074 shares of the company’s stock valued at $45,690,000 after buying an additional 422,016 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Intapp by 5.6% during the 3rd quarter. FMR LLC now owns 4,166,230 shares of the company’s stock valued at $139,652,000 after buying an additional 221,256 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Activity at Intapp

In other Intapp news, major shareholder Great Hill Equity Partners Iv sold 7,000,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $36.27, for a total value of $253,890,000.00. Following the sale, the insider now owns 6,738,269 shares of the company’s stock, valued at $244,397,016.63. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Intapp news, major shareholder Great Hill Equity Partners Iv sold 7,000,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $36.27, for a total value of $253,890,000.00. Following the sale, the insider now owns 6,738,269 shares of the company’s stock, valued at $244,397,016.63. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Scott Fitzgerald sold 8,119 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $45.02, for a total value of $365,517.38. Following the completion of the sale, the chief marketing officer now directly owns 29,568 shares in the company, valued at approximately $1,331,151.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,203,663 shares of company stock worth $262,434,904. Insiders own 36.56% of the company’s stock.

Intapp Price Performance

Shares of Intapp stock opened at $34.30 on Monday. Intapp, Inc. has a 1-year low of $30.58 and a 1-year high of $50.46. The stock has a market cap of $2.50 billion, a P/E ratio of -42.88 and a beta of 0.55. The stock’s 50 day simple moving average is $39.21 and its 200-day simple moving average is $37.67.

Intapp (NASDAQ:INTAGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. Intapp had a negative return on equity of 12.98% and a negative net margin of 13.81%. The firm had revenue of $103.93 million for the quarter, compared to analysts’ expectations of $103.17 million. As a group, research analysts expect that Intapp, Inc. will post -0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Stifel Nicolaus lifted their price objective on Intapp from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Barclays lifted their price objective on Intapp from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Truist Financial lifted their price objective on Intapp from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Piper Sandler reiterated an “overweight” rating and set a $52.00 price objective on shares of Intapp in a research note on Monday, February 26th. Finally, Citigroup assumed coverage on Intapp in a research note on Tuesday, January 23rd. They set a “buy” rating and a $57.00 price objective for the company. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intapp has an average rating of “Buy” and a consensus target price of $49.78.

Get Our Latest Report on INTA

Intapp Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Intapp (NASDAQ:INTA)

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