Intapp, Inc. (NASDAQ:INTA) has reported that Michele Murgel, the company's Chief People & Places Officer, has sold a total of $501,108 worth of common stock, according to recent filings. The transactions, which took place on September 23 and 24, involved shares sold at prices ranging from $50.00 to $50.40.
Murgel executed the sales as part of a prearranged 10b5-1 trading plan, a tool that 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. The plan was established on June 13, 2024, indicating a structured approach to the sale of her shares.
The filings detail that on September 23, Murgel sold 1,252 shares at an average price of $50.0024, and on the following day, she sold another 8,748 shares at an average price of $50.1264. The total number of shares sold across both days was 10,000, with the sales conducted in multiple transactions within the specified price ranges.
In addition to the sales, the executive also acquired shares through the exercise of options on the same dates. On September 23, Murgel exercised options to buy 1,252 shares, and on September 24, an additional 8,748 shares were acquired, both at a price of $12.00 per share, totaling $120,000 in exercised options. These transactions reflect the use of stock options that are fully vested and exercisable.
Following these transactions, the filings indicate that Michele Murgel still holds a significant number of shares in the company, demonstrating continued investment in Intapp's future. The reported activities offer insights into executive stock movements that are of interest to investors and market watchers.
In other recent news, Intapp, Inc. has seen significant financial growth. The company reported a 33% increase in cloud annual recurring revenue (ARR) to $297 million in the fiscal fourth quarter of 2024, accounting for 73% of total ARR. This was complemented by a 21% increase in total revenue for the quarter, which reached $114 million. Additionally, Intapp added 73 accounts with ARR exceeding $1 million, marking a 38% year-over-year growth.
Stifel, an independent financial services firm, maintained a Buy rating on Intapp shares and increased the price target to $60. The analyst at Stifel highlighted that the updated estimates now consider a greater portion of net new cloud ARR to be realized in the latter half of the year. Despite these adjustments, the projections for Intapp's full fiscal year 2025 remain consistent with prior expectations.
Looking ahead, Intapp projects SaaS revenue for fiscal year 2025 between $326.7 million and $330.7 million, supported by strategic partnerships, product innovation, and international expansion. The company's growth strategy emphasizes product innovation, strategic acquisitions, partnerships, and a focus on SaaS offerings, which are expected to generate over 90% of future revenue. The company's outlook is further bolstered by new client wins in various international markets and strong demand in the financial services sector.
InvestingPro Insights
As Intapp, Inc. (NASDAQ:INTA) navigates through a period marked by executive stock transactions, investors are closely monitoring the company's financial health and market performance. Michele Murgel's recent sale of company stock coincides with a time when Intapp holds more cash than debt on its balance sheet, which is a positive sign for the company's financial stability. This aligns with one of the InvestingPro Tips, which highlights the company's robust liquidity position.
Another InvestingPro Tip worth considering is that analysts have revised their earnings upwards for the upcoming period, reflecting an optimistic outlook for Intapp's financial future. This could suggest that the market is anticipating a positive trend in the company's earnings, potentially influencing stock performance.
From a data perspective, Intapp's market capitalization stands at $3.81 billion, indicating a substantial presence in its sector. The company has experienced a revenue growth of 22.7% over the last twelve months as of Q4 2024, which is a strong indicator of its ability to expand its business. Despite a negative P/E ratio of -113.28, the company's gross profit margin is impressive at 71.28%, showcasing its efficiency in converting sales into profit.
Investors tracking Intapp's stock will also note that the company has delivered a strong return over the last year, with a 60.7% price total return, and is trading near its 52-week high, at 99.96% of this peak value. These metrics suggest a bullish sentiment among investors and could be a factor to consider when assessing the company's stock performance.
For those seeking more in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/INTA, which provide further insights into Intapp's financial metrics and market position.
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