PALO ALTO, CA—Fitzgerald Scott, Chief Marketing Officer of Intapp, Inc. (NASDAQ:INTA), recently sold a significant portion of his holdings in the company amid the stock's strong performance, with shares up 88.64% over the past six months. According to a filing with the Securities and Exchange Commission, Scott sold a total of 3,000 shares of common stock on December 2, 2024. The transactions were executed at prices ranging from $62.6417 to $64.1295 per share, amounting to a total sale value of approximately $190,602.
The sales were conducted under a 10b5-1 plan, which allows company insiders to set up a predetermined plan to sell stocks they own, helping to avoid concerns about insider trading. Following these transactions, Scott holds 42,212 shares of Intapp's common stock directly.
Intapp, Inc., a provider of prepackaged software services headquartered in Palo Alto, California, has shown impressive revenue growth of 20.07% over the last twelve months. InvestingPro analysis reveals 15+ additional insights about INTA's performance and valuation, available through their comprehensive Pro Research Report.
In other recent news, Intapp has reported robust financial performance with a strong emphasis on cloud solutions and artificial intelligence. The company's first quarter results revealed 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 non-GAAP diluted EPS was reported at $0.21, and the free cash flow stood at $24.1 million. Additionally, SaaS revenue increased by 30%, reaching $77 million, and total revenue grew by 17% to $119 million.
At their Annual Meeting of Stockholders, Intapp reelected Ralph Baxter (NYSE:BAX), Charles Moran, and George Neble as Class I directors and ratified Deloitte & Touche LLP as their independent registered public accounting firm for the fiscal year ending June 30, 2025. In other developments, the company experienced a 35% year-over-year decrease in net new ARR during the first quarter, attributed to a slowdown in large deal activity.
Despite these mixed results, 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 recent developments reflect Intapp's strategic focus on cloud solutions and AI capabilities.
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