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Intapp , Inc. (NASDAQ:INTA), a $5.2 billion market cap software company, saw its Chief Financial Officer David H. Morton Jr. sell shares of the company’s common stock totaling $484,270, according to a recent SEC filing. The stock, which has gained over 50% in the past six months despite a recent 9.7% weekly decline, appears overvalued according to InvestingPro analysis. The transactions occurred on February 21 and February 24, 2025, with prices ranging from $61.845 to $69.1765 per share.
Morton executed multiple sales over these two days, reducing his direct ownership to 31,656 shares. The sales were made under a 10b5-1 plan, which allows company insiders to set up a predetermined schedule for selling stocks to avoid concerns about insider trading.
These stock sales were conducted to cover tax liabilities incurred upon the vesting of performance share units and restricted share units granted under Intapp’s 2021 Omnibus Incentive Plan. The company maintains a strong financial position with more cash than debt on its balance sheet and has received positive analyst sentiment, with nine analysts recently revising earnings estimates upward.
In other recent news, Intapp Inc. reported its fourth-quarter 2024 earnings, surpassing expectations with an earnings per share (EPS) of $0.21, compared to the forecasted $0.16. The company also reported revenue of $121.2 million, slightly above the anticipated $121.16 million. Despite these positive financial results, Intapp’s stock experienced a decline in after-hours trading. The company highlighted a 27% year-over-year increase in SaaS revenue, reflecting strong demand for its cloud-based solutions. Intapp’s cloud annual recurring revenue (ARR) grew by 29%, underscoring its successful transition to cloud services. For the upcoming quarter, Intapp projects SaaS revenue to grow by 27-28% and expects total revenue to range from $128.3 million to $129.3 million. Analyst firms like JPMorgan and Barclays (LON:BARC) have taken note of Intapp’s robust cloud adoption and its strategic partnerships, particularly with Microsoft (NASDAQ:MSFT), which are seen as growth levers for the company. These recent developments suggest a strong outlook for Intapp, driven by its strategic focus on cloud solutions and expanding market reach.
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