Intapp, Inc. (NASDAQ:INTA), a leading provider of business applications for professional and financial services firms, disclosed in a recent filing that its Chief Operating Officer, Donald F. Coleman, has sold 30,318 shares of company stock. The transaction, which took place on September 23, resulted in proceeds exceeding $1.4 million for Coleman.
According to the filing, the shares were sold at a weighted average price of $49.4297, with individual sales prices ranging from $49.01 to $49.99. The sale was conducted under a prearranged 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading.
On the same day, Coleman also exercised options to acquire an equivalent number of shares, 30,318, at a price of $3.99 per share, amounting to a total of $120,968. The options were fully vested and exercisable at the time of the transaction.
In addition to his direct holdings, Coleman is connected to an indirect ownership stake of 150,000 shares held by Gambatte LLC, a family-controlled entity benefitting the Coleman Family Trust.
Investors often monitor insider buying and selling activities as they may provide insights into the executive's confidence in the company's future performance. However, trades under a 10b5-1 plan are set up in advance, which means they do not necessarily reflect the insider's current view of the company's prospects.
Following the transactions, Coleman's direct ownership in Intapp, Inc. stands at 668,239 shares. The company, headquartered in Palo Alto, California, specializes in software services and has established itself as a significant player in the technology sector, particularly for professional service firms.
In other recent news, Intapp Inc. has shown robust growth 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 reported a 21% rise in total revenue for the quarter, reaching $114 million. Furthermore, Intapp added 73 new accounts with ARR exceeding $1 million, marking a 38% year-over-year growth.
Stifel maintained a Buy rating on Intapp and increased the price target to $60 from $45, reflecting a revised outlook for the company's first-quarter performance. The firm's analyst highlighted a shift in the timing of new cloud ARR and expects a greater portion of net new cloud ARR to be realized in the latter half of the year.
Despite slower growth in the professional services business, Intapp remains optimistic about its growth trajectory. The company's strategy emphasizes product innovation, strategic acquisitions, partnerships, and a focus on SaaS offerings, expected to generate over 90% of future revenue.
Looking ahead, the company projects SaaS revenue for fiscal year 2025 between $326.7 million and $330.7 million, driven by strategic partnerships, product innovation, and international expansion. However, the contribution to revenue from AI offerings in fiscal year 2025 is expected to be minimal.
InvestingPro Insights
In light of the recent insider trading activity at Intapp, Inc. (NASDAQ:INTA), it is pertinent to consider the company's financial health and market performance. From an InvestingPro perspective, Intapp is currently in a strong cash position, holding more cash than debt on its balance sheet. This could indicate a level of financial stability and flexibility for the company, which is a positive sign for investors.
Moreover, Intapp has been experiencing a solid return on its stock price, with a notable 60.7% one-year price total return as of the latest data. This impressive performance is further underscored by a robust three-month price total return of 42.7%, signaling strong recent market confidence in the company. These returns are reflective of the stock's near 52-week high, trading at 99.96% of this peak value.
Another significant metric for investors is the company's revenue growth, which has been reported at 22.7% for the last twelve months as of Q4 2024. This growth rate highlights Intapp's ability to increase its sales and potentially expand its market share within the industry.
For those interested in further analysis and insights, there are additional InvestingPro Tips available for Intapp, Inc., which can be accessed through the dedicated InvestingPro page for the company. These tips could provide deeper insights into Intapp's performance and future prospects.
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