Intapp's chief product officer sells $1.24 million in stock

Thad Jampol, Chief Product Officer at Intapp, Inc. (NASDAQ:INTA), recently sold a significant amount of company stock, according to a recent SEC filing. On January 8, Jampol sold a total of 19,000 shares, resulting in a total transaction value of approximately $1.24 million. The shares were sold at prices ranging from $60.8942 to $63.2473. The sale comes as Intapp trades near its 52-week high of $71.34, having delivered an impressive 87.62% return over the past six months. According to InvestingPro analysis, the stock appears overvalued at current levels.

In addition to the sales, Jampol exercised options to acquire 20,000 shares of common stock at a price of $3.99 per share, resulting in a transaction value of $79,800. Following these transactions, Jampol holds 828,197 shares directly and has additional indirect holdings through family and trust arrangements. The company, now valued at $5.2 billion, has shown strong fundamentals with 20.07% revenue growth in the last twelve months. Get deeper insights into Intapp's valuation metrics and 12 additional exclusive tips with InvestingPro.

In other recent news, Intapp has been the subject of several analyst reviews. Raymond (NS:RYMD) James downgraded Intapp from Outperform to Market Perform, citing a balanced risk/reward scenario following a strong performance. This was subsequent to an impressive 20.1% overall revenue growth and the company's announcement of its "strongest pipeline" in the fiscal year 2024. In contrast, Truist Securities raised the price target for Intapp to $77 from $55 while maintaining a Buy rating, reflecting the company's updated revenue segmentation. Meanwhile, Oppenheimer maintained its Perform rating, highlighting the company's sustained SaaS revenue growth and operational leverage.

Intapp's recent financial performance has been robust, with a focus on cloud solutions and artificial intelligence. The company reported a 27% year-over-year increase in cloud Annual Recurring Revenue (ARR) to $309 million, accounting for 74% of the total ARR of $417 million. SaaS revenue increased by 30%, reaching $77 million, and total revenue grew by 17% to $119 million. However, Intapp noted a 35% year-over-year decrease in net new ARR during the first quarter, attributed to a slowdown in large deal activity.

In other developments, Intapp's stockholders reelected directors Ralph Baxter (NYSE:BAX), Charles Moran, and George Neble and ratified Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending June 30, 2025. Looking ahead, Intapp forecasts Q2 SaaS revenue between $79.5 million and $80.5 million, and full fiscal year SaaS revenue between $327.6 million and $331.6 million.

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