Intapp, Inc. (NASDAQ:INTA) Chief Operating Officer Donald F. Coleman has sold a total of $500,745 worth of company stock, according to a recent regulatory filing. The transactions, which occurred on May 21, 2024, involved multiple sales at varying prices, reflecting a range between $36.744 and $38.187 per share.
The filing detailed three separate sales of Intapp's common stock by Coleman. In the first transaction, he sold 10,466 shares at a weighted average price of $36.744. The second sale involved 1,740 shares, fetching a weighted average price of $37.4514. Lastly, Coleman disposed of 1,336 shares at a weighted average price of $38.187.
These sales were executed under a pre-arranged 10b5-1 trading plan, which was established on December 12, 2023, for the purpose of managing tax liabilities associated with the vesting of performance share units granted under the Intapp, Inc. 2021 Omnibus Incentive Plan.
Following the sales, the COO's direct holdings in the company decreased, yet he still maintains a significant stake through indirect ownership. Specifically, Coleman has an interest in 150,000 shares held by Gambatte LLC, an entity controlled by the Coleman Family Trust.
Investors often monitor insider transactions as they can provide insights into an executive’s view of the company's future prospects. However, transactions under a 10b5-1 plan are typically scheduled in advance to avoid any potential accusations of trading on non-public information.
Intapp, Inc., headquartered in Palo Alto (NASDAQ:PANW), California, specializes in providing software services to professional and financial services firms, helping them connect their operations and enhance client success.
InvestingPro Insights
Intapp, Inc. (NASDAQ:INTA) has recently seen a flurry of activity, not only in the executive suite but also in the market. According to the latest data from InvestingPro, Intapp holds a market capitalization of $2.69 billion. Despite not being profitable over the last twelve months, analysts are optimistic about the company's prospects, with 10 analysts revising their earnings upwards for the upcoming period. This optimism is reflected in the company's revenue growth, which stands at a robust 23.81% for the last twelve months as of Q3 2024.
An InvestingPro Tip that stands out for Intapp is that the company holds more cash than debt on its balance sheet, which can be a sign of financial stability and may reassure investors about the company's ability to manage its finances in the short term. Additionally, Intapp has experienced a strong return over the last month, with a 20.77% increase in its share price, indicating a positive market sentiment.
However, it's important to note that Intapp is currently trading at a high Price / Book multiple of 6.92 as of the last twelve months ending Q3 2024. This metric suggests that the market may be valuing the company's net assets at a premium, which could be due to the growth expectations or other intangible assets not fully captured on the balance sheet.
For those considering an investment in Intapp, the InvestingPro platform offers additional insights and tips to help make informed decisions. In fact, there are 6 more InvestingPro Tips available for Intapp, which can be accessed by visiting: https://www.investing.com/pro/INTA. For a deeper dive into these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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