Michele Murgel, Chief People & Places Officer at Intapp, Inc. (NASDAQ:INTA), recently sold shares of the company's common stock valued at approximately $615,998. The transactions, which took place on November 21, 2024, involved the sale of 10,388 shares at prices ranging from $58.8488 to $59.3404 per share.
These sales were conducted as part of a 10b5-1 plan established by Intapp on June 10, 2024, and were made to cover tax liabilities incurred from the vesting of performance and restricted share units. Following these transactions, Murgel retains ownership of 168,655 shares of Intapp common stock.
In other recent news, Intapp has demonstrated strong financial growth with an 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, while the free cash flow stood at $24.1 million. Intapp's 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.
In other recent developments, Intapp 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. The company also held votes on executive compensation and the frequency of stockholder votes on such compensation, deciding on an annual "Say-on-Pay" vote.
Despite a mixed first quarter, 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.
InvestingPro Insights
As Michele Murgel's recent stock sale draws attention to Intapp, Inc. (NASDAQ:INTA), it's worth examining some key financial metrics and insights provided by InvestingPro to gain a more comprehensive view of the company's current position.
According to InvestingPro data, Intapp's market capitalization stands at $4.64 billion, reflecting its significant presence in the software industry. The company has demonstrated strong revenue growth, with a 20.07% increase in the last twelve months as of Q1 2023, reaching $447.75 million. This growth trajectory aligns with an InvestingPro Tip indicating that net income is expected to grow this year, suggesting potential for improved financial performance.
Intapp's stock has shown remarkable momentum, with a 55.87% price total return over the past year and a robust 66.56% return over the last six months. This performance is underscored by another InvestingPro Tip noting that the company has achieved a high return over the last year. The stock is currently trading near its 52-week high, with the price at 98.41% of its peak, which could be of interest to investors monitoring technical indicators.
While these metrics paint a picture of strong growth and market performance, it's important to note that Intapp is currently not profitable over the last twelve months, as highlighted by an InvestingPro Tip. However, analysts predict that the company will turn profitable this year, which could be a significant milestone for Intapp and its shareholders.
For investors seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for Intapp, providing a deeper understanding of the company's financial health and market position. These insights can be particularly valuable when evaluating the context of insider transactions like Michele Murgel's recent stock sale.
Intapp, Inc. (NASDAQ:INTA) is a provider of industry-specific, cloud-based software solutions for the professional and financial services industry. The company's software is designed to address the unique operational challenges and regulatory requirements faced by firms in these sectors.
The recent insider sale by Michele Murgel is part of a planned transaction to cover tax liabilities, which is a common practice among executives receiving equity-based compensation. While insider sales can sometimes raise questions among investors, it's important to note that this particular transaction was pre-planned and related to tax obligations rather than a discretionary sale based on the executive's view of the company's prospects.
Intapp's stock performance and financial metrics will continue to be closely watched by investors as the company progresses towards profitability and seeks to capitalize on its strong revenue growth. As always, investors are encouraged to consider a wide range of factors, including insider transactions, financial performance, and market conditions, when making investment decisions.
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