In a recent transaction, Thad Jampol, the Chief Product Officer of Intapp, Inc. (NASDAQ:INTA), sold a significant portion of his holdings in the company. According to the SEC filing, Jampol sold a total of 20,174 shares of common stock on November 21, 2024. The sale was executed at a weighted average price range of $58.8488 to $59.3404 per share, totaling approximately $1.2 million.
Following the transaction, Jampol retains direct ownership of 803,400 shares. Additionally, there are indirect holdings, including 34,972 shares owned by his spouse and 30,056 shares held by two trusts, the Melita Jampol 2021 Grantor Retained Annuity Trust and the Thaddeus Jampol 2021 Grantor Retained Annuity Trust, where Jampol serves as a trustee.
The shares were sold to cover tax liabilities incurred from the vesting of performance share units and restricted share units under Intapp's 2021 Omnibus Incentive Plan, as part of a pre-established 10b5-1 trading plan.
In other recent news, Intapp has reported strong financial performance, 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 company's non-GAAP diluted EPS was reported at $0.21, and the free cash flow stood at $24.1 million. Furthermore, SaaS revenue increased by 30%, reaching $77 million, and total revenue grew by 17% to $119 million. In recent developments, the company's stockholders have reelected directors and ratified Deloitte & Touche LLP as the auditor for FY2025. 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 Thad Jampol's recent stock sale draws attention, it's worth examining Intapp's current financial position and market performance. According to InvestingPro data, Intapp boasts a market capitalization of $4.64 billion, reflecting its significant presence in the software industry.
The company's revenue growth is noteworthy, with a 20.07% increase over the last twelve months as of Q1 2023, reaching $447.75 million. This robust growth aligns with an InvestingPro Tip indicating that net income is expected to grow this year. Additionally, eight analysts have revised their earnings upwards for the upcoming period, suggesting positive sentiment about Intapp's financial trajectory.
Despite the recent insider sale, Intapp's stock has shown strong performance. The company has delivered a substantial 55.87% price total return over the past year, and is currently trading near its 52-week high, with the price at 98.41% of its peak. This impressive momentum is further supported by an InvestingPro Tip highlighting Intapp's strong returns over the last month, three months, and five years.
It's important to note that while Intapp holds more cash than debt on its balance sheet, which is a positive sign, the company was not profitable over the last twelve months. However, analysts predict profitability this year, which could be a turning point for the company's financial health.
For investors seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for Intapp, providing deeper insights into the company's valuation, growth prospects, and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.