In a recent transaction, Donald F. Coleman, the Chief Operating Officer of Intapp, Inc. (NASDAQ:INTA), sold a significant portion of his stock in the company. The executive offloaded 5,000 shares at prices ranging from $34.711 to $35.4339, netting a total of over $174,711.
This move came in conjunction with Coleman exercising his option to buy another 5,000 shares of Intapp's common stock at a price of $3.99 per share, amounting to a total of $19,950. Following these transactions, Coleman's direct ownership in the company stands at 648,411 shares.
The sales were conducted under a 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for buying and selling stocks at a time when they are not in possession of material non-public information. This plan was established by Coleman on March 14, 2024.
It's noteworthy that the stock transactions were executed after the options were exercised, which is a common practice for insiders to manage their stock-based compensation. The shares sold were part of a batch that was already vested and exercisable as of the transaction date.
Additionally, it was disclosed that Coleman has an indirect ownership interest in 150,000 shares held by Gambatte LLC, a family trust.
Intapp, Inc., headquartered in Palo Alto (NASDAQ:PANW), California, specializes in prepackaged software services and is incorporated in Delaware. The company's stock is traded on the NASDAQ under the ticker symbol INTA.
In other recent news, Intapp has reported noteworthy developments. The company's fiscal third quarter of 2024 saw robust growth with cloud Annual Recurring Revenue (ARR) rising to $274.2 million, constituting 72% of total ARR. Total revenue for the quarter was $110.6 million, a 20% increase year-over-year, while SaaS and support revenue grew by 22% to $80.8 million. These figures were boosted by strategic acquisitions, including Transform Data International (TDI), and the introduction of new generative AI capabilities.
Oppenheimer recently downgraded Intapp's stock, citing competitive pressures and potential impacts on the company's growth and business model efficiency. The firm highlighted increased competition from major players such as Salesforce (NYSE:CRM) and Oracle (NYSE:ORCL), and expressed concern over Intapp's defensibility in the era of AI.
In addition, Argonaut Private Equity has chosen Intapp for employee compliance monitoring, aiming to automate oversight of personal trading activities. This move is expected to simplify compliance and reduce time spent on manual processes.
Looking ahead, Intapp projects Q4 SaaS and support revenue to be between $83.5 million and $84.5 million, and total revenue to range from $111 million to $112 million. For the full fiscal year 2024, the projections are $314.5 million to $315.5 million for SaaS and support revenue, and $427 million to $428 million for total revenue. These are recent developments in Intapp's journey.
InvestingPro Insights
As Intapp, Inc.'s (NASDAQ:INTA) Chief Operating Officer, Donald F. Coleman, makes notable stock transactions, investors and potential shareholders might be interested in the company's financial health and future prospects. According to InvestingPro data, Intapp holds a market capitalization of approximately $2.47 billion USD. Despite not being profitable over the last twelve months, analysts are optimistic, predicting profitability for the company this year, which could be a sign of Intapp's potential to improve its financial standing.
InvestingPro Tips suggest that Intapp has a stronger liquidity position, holding more cash than debt on its balance sheet, which is a positive indicator for financial stability. Moreover, the company's revenue growth over the last twelve months as of Q3 2024 stands at an impressive 23.81%, signaling a robust expansion in its business operations. Analysts have taken note of Intapp's performance and potential, with 10 analysts revising their earnings upwards for the upcoming period, reflecting a positive outlook on the company's future earnings potential.
While Intapp's Price / Book multiple is high at 6.41, suggesting a premium valuation, this could be attributed to the market's expectations for future growth, as indicated by the company's strong revenue growth figures. It's important to note that Intapp does not pay a dividend to shareholders, which is common for companies focused on reinvesting earnings into growth opportunities.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available on the platform, which can be accessed by visiting the dedicated page for Intapp at https://www.investing.com/pro/INTA. These tips provide further insights that can help make informed investment decisions regarding Intapp, Inc.
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