Thu Sep 26 15:01:11 UTC 2024: ## Intapp Stock Drops After Insider Selling Activity
**New York, NY** – Shares of Intapp, Inc. (NASDAQ: INTA) dropped 4% on Thursday following insider selling activity. The stock traded as low as $48.77 and closed at $49.16, down from its previous closing price of $51.19.
The decline came after multiple insider sales were disclosed. COO Donald F. Coleman sold a total of 88,321 shares in two transactions on September 20th and 23rd, bringing his total holdings to 668,239 shares. Additionally, insider Michele Murgel sold 1,252 shares on September 23rd, reducing her holdings to 152,702 shares.
Despite the insider selling, analysts remain generally optimistic about Intapp. Stifel Nicolaus recently upgraded their price target on the stock from $45.00 to $60.00 and maintained a “buy” rating, while Barclays raised their target price from $42.00 to $44.00 and assigned an “overweight” rating. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.00.
Intapp recently reported strong second-quarter earnings, exceeding analyst expectations. The company reported earnings per share of $0.15, beating the consensus estimate of $0.12, and revenue of $114.38 million, surpassing the consensus estimate of $111.58 million.
Intapp, Inc. provides cloud-based software solutions for the professional and financial services industry. The company’s solutions include deal management, collaboration and content management, risk and compliance management, and operational and financial management.
The company’s stock has a market cap of $3.62 billion, a P/E ratio of -83.92, and a beta of 0.65. While the recent insider selling may have contributed to the stock’s decline, the company’s strong earnings performance and positive analyst sentiment suggest potential for future growth.
First Piper 