Edgestream Partners L.P. Invests $6.56 Million in Intapp, Inc. (NASDAQ:INTA)

Edgestream Partners L.P. bought a new position in shares of Intapp, Inc. (NASDAQ:INTA) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 112,276 shares of the company’s stock, valued at approximately $6,555,000. Edgestream Partners L.P. owned about 0.14% of Intapp as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of Intapp by 74.2% during the 1st quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock worth $31,000 after buying an additional 224 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Intapp by 414.7% in the first quarter. Nisa Investment Advisors LLC now owns 803 shares of the company’s stock valued at $47,000 after acquiring an additional 647 shares during the last quarter. Johnson Financial Group Inc. boosted its stake in Intapp by 273.8% in the fourth quarter. Johnson Financial Group Inc. now owns 826 shares of the company’s stock valued at $53,000 after acquiring an additional 605 shares in the last quarter. CWM LLC boosted its stake in Intapp by 27.0% in the first quarter. CWM LLC now owns 1,003 shares of the company’s stock valued at $59,000 after acquiring an additional 213 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new stake in shares of Intapp during the fourth quarter worth about $64,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Intapp Stock Performance

Shares of Intapp stock opened at $43.49 on Tuesday. Intapp, Inc. has a one year low of $31.08 and a one year high of $77.74. The company has a market cap of $3.52 billion, a P/E ratio of -181.21, a PEG ratio of 8.24 and a beta of 0.76. The firm has a fifty day moving average of $53.45 and a two-hundred day moving average of $59.26.

Intapp (NASDAQ:INTA) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Intapp had a negative net margin of 3.78% and a negative return on equity of 1.19%. The firm had revenue of $129.07 million during the quarter, compared to analysts’ expectations of $128.84 million. During the same period in the prior year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, equities analysts predict that Intapp, Inc. will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In other Intapp news, insider David Benjamin Harrison sold 14,275 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $55.01, for a total value of $785,267.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thad Jampol sold 5,000 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $56.65, for a total transaction of $283,250.00. Following the sale, the insider owned 857,250 shares in the company, valued at $48,563,212.50. The trade was a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,913 shares of company stock worth $4,257,984. Corporate insiders own 13.02% of the company’s stock.

Analysts Set New Price Targets

INTA has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their target price on Intapp from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, July 8th. UBS Group lowered their target price on shares of Intapp from $92.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen downgraded shares of Intapp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 21st. Citigroup reissued a “neutral” rating on shares of Intapp in a research report on Monday, April 21st. Finally, Piper Sandler upgraded shares of Intapp to a “neutral” rating and set a $55.00 price objective on the stock in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.89.

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.