Fred Alger Management LLC Lowers Holdings in Intapp, Inc. (NASDAQ:INTA)

Fred Alger Management LLC lowered its stake in shares of Intapp, Inc. (NASDAQ:INTA) by 45.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670,743 shares of the company’s stock after selling 565,800 shares during the period. Fred Alger Management LLC owned 0.91% of Intapp worth $24,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. J.Safra Asset Management Corp boosted its stake in Intapp by 634.0% during the second quarter. J.Safra Asset Management Corp now owns 712 shares of the company’s stock valued at $26,000 after buying an additional 615 shares during the last quarter. Advisors Asset Management Inc. raised its holdings 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 acquiring an additional 581 shares in the last quarter. Blue Trust Inc. bought a new position in shares of Intapp during the 2nd quarter valued at approximately $30,000. Comerica Bank grew its holdings in shares of Intapp by 218.4% in the first quarter. Comerica Bank now owns 1,261 shares of the company’s stock valued at $43,000 after purchasing an additional 865 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Intapp by 164.6% in the 4th quarter. Assetmark Inc. now owns 1,310 shares of the company’s stock worth $50,000 after buying an additional 815 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Intapp Stock Performance

Shares of NASDAQ:INTA opened at $51.19 on Thursday. The firm has a market cap of $3.76 billion, a PE ratio of -83.92 and a beta of 0.65. The firm’s 50 day simple moving average is $41.12 and its 200-day simple moving average is $36.68. Intapp, Inc. has a one year low of $30.36 and a one year high of $51.20.

Intapp (NASDAQ:INTA) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Intapp had a negative return on equity of 5.36% and a negative net margin of 7.44%. The business had revenue of $114.38 million for the quarter, compared to the consensus estimate of $111.58 million. During the same quarter in the prior year, the company earned ($0.14) EPS. The business’s revenue was up 20.9% compared to the same quarter last year. Equities research analysts predict that Intapp, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INTA. Citigroup lifted their target price on Intapp from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group increased their target price on shares of Intapp from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Stifel Nicolaus lifted their price target on shares of Intapp from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday. Barclays upped their price target on shares of Intapp from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Oppenheimer reissued a “market perform” rating on shares of Intapp in a research note on Monday, July 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Intapp has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Insider Activity

In other news, insider Thad Jampol sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $34.92, for a total value of $523,800.00. Following the completion of the sale, the insider now owns 749,652 shares of the company’s stock, valued at approximately $26,177,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Donald F. Coleman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $36.49, for a total transaction of $182,450.00. Following the completion of the transaction, the chief operating officer now owns 648,411 shares in the company, valued at approximately $23,660,517.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thad Jampol sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $34.92, for a total transaction of $523,800.00. Following the completion of the sale, the insider now owns 749,652 shares of the company’s stock, valued at $26,177,847.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,239 shares of company stock worth $6,856,781. 36.56% of the stock is currently owned by corporate insiders.

Intapp 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.