Intapp president sells over $13 million in company stock

Intapp, Inc. (NASDAQ:INTA) President of Industries, Harrison David Benjamin, has recently sold a significant portion of his company stock, transactions filed with the SEC reveal. The executive offloaded shares worth over $13 million in a series of transactions on August 20 and 21.

Benjamin sold a total of 99,490 shares at a weighted average price of $42.2617 and 16,534 shares at a weighted average price of $42.2288 on August 20. The following day, he sold 197,406 shares at a weighted average price of $43.0981, along with smaller sales totaling 7,390 shares at prices ranging from $41.99 to $43.00. These sales amounted to a total of $12,712,440, with prices per share varying between $42.2617 and $43.0981.

In addition to the sales, Benjamin also exercised options to acquire 142,039 shares of Intapp common stock at a set price of $26.00 per share on August 21, which added up to $3,693,014.

The transactions were part of a prearranged 10b5-1 trading plan, which allows insiders of publicly traded corporations to set up a trading plan for selling stocks they own. This plan was established by the company on June 10, 2024.

Following these transactions, the SEC filing indicated that Benjamin's direct holdings in the company decreased significantly, though it did not provide exact post-transaction ownership figures.

Intapp, headquartered in Palo Alto, California, specializes in prepackaged software solutions and operates under the SIC code 7372 for Services-Prepackaged Software. The company, formerly known as LegalApp Holdings, Inc., has been incorporated in Delaware and has its fiscal year-end on June 30.

The disclosed SEC filing provides investors with a transparent view of the executive's recent stock transactions, which are part of routine financial management activities by corporate insiders.

In other recent news, Intapp, Inc. reported a 33% year-over-year increase in its cloud annual recurring revenue (ARR), totaling $297 million and making up 73% of the company's total ARR. This robust growth was also reflected in the company's total revenue for the quarter, which saw a 21% increase from the previous year, reaching $114 million. Additionally, Intapp added 73 new accounts with ARR exceeding $1 million, marking a 38% year-over-year growth.

Looking ahead, Intapp projects its SaaS revenue for fiscal year 2025 to be between $326.7 million and $330.7 million, indicating further growth. The company also plans to focus on operational efficiency, customer satisfaction, and international expansion, with over 90% of future revenue expected to be generated through SaaS offerings.

However, Intapp anticipates a slower growth in the professional services business and a minimal contribution to revenue from AI offerings in fiscal year 2025. Despite these challenges, the company maintains a positive outlook, buoyed by new client wins in various international markets and strong demand in the financial services sector. These recent developments reflect Intapp's strategic positioning and continued expansion in the market.

InvestingPro Insights

Amid the recent stock transactions by Intapp, Inc.'s (NASDAQ:INTA) President of Industries, Harrison David Benjamin, investors may be looking for additional context to understand the company's financial health and future prospects. Here are some key metrics and insights from InvestingPro that could provide a clearer picture:

• Intapp is currently trading near its 52-week high, with a price percentage of the high at 95.18%. This indicates a strong performance in the stock price over the past year, aligning with the transactions made by the executive.
• The company holds a market capitalization of $3.17 billion, reflecting its valuation in the market based on its outstanding shares.
• Despite not being profitable over the last twelve months, analysts predict that the company will be profitable this year. This outlook could be a driving factor behind the executive's decision to exercise options and sell shares.

InvestingPro Tips that may be particularly relevant in light of this news include:

• Intapp holds more cash than debt on its balance sheet, which could be a sign of financial stability and may reassure investors about the company's ability to manage its finances amid stock sales by insiders.
• Net income is expected to grow this year, which could indicate potential for future stock price appreciation and might provide context for the timing of the executive's stock transactions.

For those interested in deeper analysis, there are 6 additional InvestingPro Tips available for Intapp on https://www.investing.com/pro/INTA, offering insights such as earnings revisions by analysts and the stock's technical indicators.

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