In a recent transaction, Scott Fitzgerald, the Chief Marketing Officer of Intapp, Inc. (NASDAQ:INTA), sold a significant number of shares in the company. According to the latest filings, Fitzgerald parted with a total of 3,000 shares, generating over $143,000 in the process.
The transactions took place on October 1, 2024, with the prices of shares sold ranging from $47.01 to $48.66. Specifically, Fitzgerald sold 2,218 shares at an average price of $47.6168 and 782 shares at an average price of $48.2725. These sales were conducted under a 10b5-1 trading plan, which was established on March 15, 2024, allowing for pre-planned transactions by insiders of the company.
Following these sales, Fitzgerald still maintains ownership of 40,899 shares of Intapp, Inc., indicating a continued vested interest in the company's success. The transactions were carried out directly, with no intermediaries reported.
Investors often monitor insider sales as they can provide insights into an executive's perspective on the company's current valuation and future prospects. However, it's important to note that there can be many reasons for an insider to sell shares, and such transactions do not necessarily indicate a lack of confidence in the company.
Intapp, Inc., headquartered in Palo Alto (NASDAQ:PANW), California, specializes in services and prepackaged software, catering to the needs of various professional and financial services firms. The company has been publicly traded and continues to be an important player in the software industry.
In other recent news, Intapp, Inc. has been maintaining a strong growth trajectory. Notably, the company's fiscal fourth quarter and year-end 2024 performance displayed a 33% increase in cloud annual recurring revenue (ARR) to $297 million, accounting for 73% of total ARR. The total revenue for the quarter also saw a 21% increase, reaching $114 million. Analysts at Stifel maintained a Buy rating on Intapp, raising the price target to $60 from a previous $45, reflecting adjustments in the company's first-quarter performance and a shift in the timing of new cloud ARR.
Despite changes, projections for Intapp's full fiscal year 2025, including subscription and support revenue, total revenue, non-GAAP operating income, and Free Cash Flow (FCF), remain consistent with prior expectations. The company also added 73 accounts with ARR exceeding $1 million, marking a 38% year-over-year growth. SaaS and support revenue saw a significant rise of 25% year-over-year, reaching $85 million. For fiscal year 2025, the company projects SaaS revenue between $326.7 million and $330.7 million, supported by strategic partnerships, product innovation, and international expansion. These developments underline Intapp's robust growth and strategic positioning in the market.
InvestingPro Insights
To provide additional context to Scott Fitzgerald's recent share sale, let's examine some key financial metrics and insights from InvestingPro for Intapp, Inc. (NASDAQ:INTA).
According to InvestingPro data, Intapp's market capitalization stands at $3.63 billion, reflecting its significant presence in the software industry. The company has demonstrated strong revenue growth, with a 22.7% increase over the last twelve months, reaching $430.52 million. This growth trajectory aligns with an InvestingPro Tip indicating that net income is expected to grow this year.
Despite the positive revenue trend, it's worth noting that Intapp is not currently profitable, with an operating income margin of -7.62% over the last twelve months. However, an InvestingPro Tip suggests that analysts predict the company will become profitable this year, which could explain why six analysts have revised their earnings upwards for the upcoming period.
The stock has shown impressive momentum, with a 52.75% price return over the past six months and a 30.61% return in the last three months. This performance is reflected in an InvestingPro Tip highlighting the stock's strong return over the last quarter.
Investors should be aware that Intapp is trading at high multiples, with a Price to Book ratio of 9.04. This valuation metric, along with the company's high revenue multiple, suggests that the market has priced in significant growth expectations.
For those interested in 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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