PALO ALTO, CA—Donald F. Coleman, Chief Operating Officer of Intapp, Inc. (NASDAQ:INTA), has recently sold a significant portion of his holdings in the company, according to a filing with the Securities and Exchange Commission. The transactions, which took place on November 21, involved the sale of 17,748 shares of Intapp common stock, amounting to a total of approximately $1,052,439.
The shares were sold at prices ranging from $58.51 to $59.757 per share. Following these transactions, Coleman holds 695,498 shares directly. Additionally, he retains an indirect interest through Gambatte LLC, which is controlled by the Coleman Family Trust, holding 150,000 shares.
These sales were executed as part of a pre-arranged 10b5-1 trading plan, designed to address tax liabilities incurred from the vesting of performance share units and restricted share units under Intapp's 2021 Omnibus Incentive Plan.
In other recent news, Intapp's recent developments showcase robust financial growth with a focus on cloud solutions and artificial intelligence. The company's first quarter results revealed a 27% year-over-year increase in cloud Annual Recurring Revenue (ARR) to $309 million, accounting for 74% of the total ARR of $417 million. SaaS revenue also saw a significant increase of 30%, reaching $77 million, with total revenue growing by 17% to $119 million. However, Intapp noted a 35% year-over-year decrease in net new ARR during the first quarter, due to a slowdown in large deal activity.
In a recent annual meeting, stockholders reelected Ralph Baxter (NYSE:BAX), Charles Moran, and George Neble as Class I directors and ratified Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending June 30, 2025. The stockholders also approved an annual "Say-on-Pay" vote, a decision on executive compensation.
Despite the mixed results, Oppenheimer maintained its Perform rating for Intapp, highlighting the company's sustained SaaS revenue growth and operating leverage. Looking ahead, Intapp projects Q2 SaaS revenue between $79.5 million and $80.5 million, and full fiscal year SaaS revenue between $327.6 million and $331.6 million.
InvestingPro Insights
As Donald F. Coleman, COO of Intapp, Inc. (NASDAQ:INTA), executes a significant stock sale, investors might be curious about the company's current financial standing and market position. According to InvestingPro data, Intapp boasts a market capitalization of $4.64 billion, reflecting its substantial presence in the software industry.
The company's revenue growth remains robust, with a 20.07% increase over the last twelve months as of Q1 2023, reaching $447.75 million. This growth trajectory aligns with an InvestingPro Tip indicating that net income is expected to grow this year, potentially signaling improving financial health.
Intapp's stock performance has been particularly strong, with a 55.87% price total return over the past year. This impressive gain is further emphasized by another InvestingPro Tip, which notes that the stock is trading near its 52-week high, with the current price at 98.41% of that peak.
While these metrics paint a picture of a company on an upward trajectory, it's worth noting that Intapp is currently trading at a high revenue valuation multiple. This suggests that investors are pricing in significant future growth expectations.
For those seeking a more comprehensive analysis, InvestingPro offers 14 additional tips on Intapp, providing deeper insights into the company's financial health and market position. These additional tips can be particularly valuable for investors looking to understand the full context of Coleman's stock sale and Intapp's future prospects.
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