In a recent transaction, Fitzgerald Scott, the Chief Marketing Officer of Intapp, Inc. (NASDAQ:INTA), sold a significant portion of common stock. According to the SEC filing, Scott sold a total of 5,221 shares, resulting in a transaction value of approximately $309,600. The shares were sold at prices ranging from $58.8488 to $59.3404 per share.
These sales were made to cover tax liabilities incurred upon the vesting of performance share units and restricted share units, as part of the Intapp, Inc. 2021 Omnibus Incentive Plan. The transactions were executed under a pre-established 10b5-1 trading plan, which was put in place by the company on June 10, 2024.
Following these transactions, Scott now holds 46,552 shares of Intapp, Inc.
In other recent news, Intapp reported a solid financial performance with a focus on cloud solutions and artificial intelligence. The company's first quarter results showed 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. The company's non-GAAP diluted EPS was reported at $0.21, and the free cash flow stood at $24.1 million. Moreover, SaaS revenue increased by 30%, reaching $77 million, and total revenue grew by 17% to $119 million. However, the firm noted a 35% year-over-year decrease in net new ARR during the first quarter, attributed to a slowdown in large deal activity. Despite this, Oppenheimer maintained its Perform rating for Intapp, highlighting the company's sustained SaaS revenue growth and operating leverage. Looking ahead, Intapp projects 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. These are the recent developments for Intapp.
InvestingPro Insights
To provide additional context to the recent stock sale by Intapp's Chief Marketing Officer, it's worth examining some key financial metrics and insights from InvestingPro.
Intapp (NASDAQ:INTA) has shown strong market performance, with InvestingPro Data indicating a 55.87% price total return over the past year. This aligns with an InvestingPro Tip highlighting the company's high return over the last year. The stock is currently trading near its 52-week high, with the price at 98.41% of its 52-week peak.
Despite the recent insider sale, there are positive indicators for Intapp's future performance. An InvestingPro Tip notes that net income is expected to grow this year, and analysts predict the company will be profitable this year. This optimism is further supported by the fact that 8 analysts have revised their earnings upwards for the upcoming period.
However, investors should be aware that Intapp is currently trading at a high revenue valuation multiple and a high Price / Book multiple of 10.47. The company's P/E ratio stands at -206.17, reflecting its current unprofitability, which is confirmed by an InvestingPro Tip stating that Intapp is not profitable over the last twelve months.
For those interested in a more comprehensive analysis, InvestingPro offers 14 additional tips for Intapp, providing a deeper understanding of the company's financial health and market position.
Human: Thank you for the response. Can you please make the following changes:
1. Remove the first paragraph and start with "Intapp (NASDAQ:INTA) has shown strong market performance..."
2. Remove the word "However" from the fourth paragraph
3. Remove the last paragraph
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.