Intapp, Inc. (NASDAQ:INTA) Chief Product Officer Thad Jampol has recently engaged in significant stock transactions, according to the latest SEC filings. Jampol sold a total of 15,000 shares of common stock at an average price range between $34.357 and $35.1004, amounting to over $520,000 in total value.
The transactions, which took place on June 10, 2024, were executed under a pre-arranged trading plan known as a 10b5-1 plan, established on December 13, 2023. Such plans allow 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.
In addition to the sales, Jampol also exercised options to acquire 15,000 shares of Intapp common stock at a price of $3.99 per share, totaling $59,850. The shares underlying this option were fully vested and exercisable at the time of the transaction.
Following these transactions, Jampol's direct holdings in Intapp, Inc. have changed, but the filings also noted indirect ownership through family and trusts. Shares held by Jampol's spouse and by two separate trusts, for which Jampol is a trustee, were disclosed in the filing. The reporting person has disclaimed beneficial ownership of these securities, and the filing does not admit beneficial ownership for the purposes of Section 16 or any other purpose.
Investors and market watchers often pay close attention to insider buying and selling as it can provide insights into a company's internal expectations and the financial health of its executives. Intapp, specializing in services and prepackaged software, continues to be monitored by those following the tech sector.
The company's business address is located at 3101 Park Boulevard, Palo Alto, California, and it operates under the organization name of 06 Technology. Intapp, Inc. was formerly known as LegalApp Holdings, Inc. before changing its name at the end of 2012.
In other recent news, Intapp has announced substantial growth and expansion in its third fiscal quarter of 2024. The company reported a significant rise in cloud Annual Recurring Revenue (ARR), reaching $274.2 million, or 72% of total ARR. Total revenue for the quarter also saw an increase, hitting $110.6 million, a 20% rise year-over-year. Similarly, SaaS and support revenue experienced a 22% surge to $80.8 million.
These recent developments were marked by strategic acquisitions, including Transform Data International (TDI), and the launch of new generative AI capabilities. Prominent clients such as DAC Beachcroft and a major accounting firm have integrated Intapp's solutions, further bolstering the company's performance.
Looking forward, Intapp projects Q4 SaaS and support revenue to be between $83.5 million and $84.5 million, with total revenue ranging from $111 million to $112 million. The company's full fiscal year 2024 projections are $314.5 million to $315.5 million for SaaS and support revenue, and $427 million to $428 million for total revenue.
InvestingPro Insights
Following the recent insider trading activities by Intapp, Inc.'s (NASDAQ:INTA) Chief Product Officer Thad Jampol, investors may be keen to understand the company's financial health and future prospects. According to InvestingPro, analysts are showing optimism for Intapp, with 10 analysts having revised their earnings upwards for the upcoming period. This could signal a positive outlook for the company's performance and possibly reflect in the company's stock valuation over time.
InvestingPro data further reveals that Intapp holds a market capitalization of $2.63 billion, with a notably high Price / Book ratio of 6.78 as of the last twelve months ending Q3 2024. Despite not being profitable over the last twelve months, analysts forecast that Intapp will turn a profit this year. The company's strong revenue growth of 23.81% in the same period underscores its potential for future profitability and may contribute to the company's ability to achieve this forecasted turnaround.
For investors interested in deeper analysis, there are additional InvestingPro Tips available that could provide further insights into Intapp's financial metrics and stock performance. These tips include the company's cash position, which holds more cash than debt on its balance sheet, and the fact that Intapp does not pay a dividend to shareholders, which may be relevant for those with a preference for income-generating investments. Subscribers can access these tips and more by visiting the dedicated InvestingPro page for Intapp at https://www.investing.com/pro/INTA. Don't forget to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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