Intapp, Inc. (NASDAQ:INTA) Chief Product Officer Thad Jampol has sold a portion of his company stock, according to a recent SEC filing. The transactions, which took place on October 8, 2024, resulted in Jampol disposing of 20,000 shares through option exercises and selling a total of 20,000 shares. The sales generated over $900,000 for the executive.
Specifically, Jampol sold 3,305 shares at a weighted average price of $44.8807 and 16,695 shares at a weighted average price of $45.1265. The total proceeds from these sales amounted to approximately $901,717. The price range for the shares sold varied from $44.37 to $45.39. In addition to the sales, Jampol also acquired 20,000 shares by exercising options at a price of $3.99 per share, totaling $79,800.
Following the transactions, Jampol's direct holdings in Intapp, Inc. have changed, but he remains a significant shareholder. The filing also noted holdings by Jampol's spouse and trusts where he serves as a trustee, emphasizing that the reporting of these shares is not an admission of beneficial ownership for the purposes of Section 16 or any other purpose.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. Intapp, Inc., headquartered in Palo Alto (NASDAQ:PANW), California, specializes in prepackaged software services and operates in the technology sector.
The transactions were executed in accordance with a prearranged 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 Jampol on December 13, 2023.
For further details on the transactions, investors can reference the full SEC filing.
In other recent news, Intapp has reported robust growth in its fiscal fourth quarter and year-end 2024 performance, with a 33% increase in cloud annual recurring revenue (ARR) to $297 million, accounting for 73% of the company's total ARR. The company also saw a 21% rise in total revenue, which reached $114 million. In addition, Intapp added 73 accounts with ARR exceeding $1 million, marking a 38% year-over-year growth.
Barclays (LON:BARC) has downgraded Intapp's stock from Overweight to Equal Weight, citing concerns about slowing ARR growth. Despite this, Stifel, an independent analysis firm, maintained a Buy rating on Intapp shares and increased the price target to $60, reflecting a positive outlook on the company's first-quarter performance and the timing of new cloud ARR.
Recent developments also show that Intapp projects SaaS revenue for the fiscal year 2025 between $326.7 million and $330.7 million, supported by strategic partnerships, product innovation, and international expansion. However, Barclays anticipates a lower net new ARR for the company in the first quarter of 2025. Despite this, Intapp remains positive about its growth trajectory, with a strategy emphasizing product innovation, strategic acquisitions, partnerships, and a focus on SaaS offerings.
InvestingPro Insights
Intapp's recent stock performance and financial metrics provide additional context to Chief Product Officer Thad Jampol's stock transactions. According to InvestingPro data, Intapp has seen a strong return over the last three months, with a 39.19% price total return. This upward trend extends to a 47.21% return over the past six months, indicating positive market sentiment that may have influenced Jampol's decision to exercise options and sell shares.
Despite the recent stock appreciation, InvestingPro Tips highlight that Intapp is not currently profitable over the last twelve months. However, analysts predict the company will be profitable this year, which could explain why six analysts have revised their earnings upwards for the upcoming period. This optimistic outlook aligns with the expectation that net income is set to grow this year.
It's worth noting that Intapp holds more cash than debt on its balance sheet, potentially providing financial flexibility as it aims for profitability. The company's revenue growth of 22.7% over the last twelve months also suggests ongoing business expansion.
For investors seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for Intapp, providing a deeper understanding of the company's financial health and market position.
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