Intapp, Inc. (NASDAQ:INTA) Chief Operating Officer Donald F. Coleman has sold a portion of his company stock, according to a recent SEC filing. The transactions, which took place on May 20, 2024, involved the sale of 8,135 shares of common stock at weighted average prices ranging from $36.76 to $37.08, resulting in a total sale value of approximately $299,985.
The sale occurred following the vesting of performance share units granted under Intapp's 2021 Omnibus Incentive Plan. These shares were initially earned based on the achievement of specific performance conditions and were certified by the audit committee of Intapp's board of directors on May 17, 2024. The shares were subject to service-based vesting requirements, which lapsed three days later, coinciding with the sale.
It is notable that the shares sold were part of a prearranged 10b5-1 trading plan established by Coleman on December 12, 2023. This type of plan allows corporate insiders to set up a predetermined schedule for buying or selling shares to avoid accusations of insider trading.
Additionally, the filing revealed that on the same day as the certification of performance share units, Coleman acquired 40,750 shares of Intapp common stock, which increased his direct ownership in the company to 670,088 shares following the transactions.
Investors may also find it of interest that Coleman has indirect ownership of an additional 150,000 shares of Intapp common stock through Gambatte LLC, a family-controlled entity for the benefit of the Coleman Family Trust.
The recent filing provides a snapshot of executive transactions and holdings, offering insights into insider activity at Intapp, Inc. As of the date of the filing, the company's business address is 3101 Park Boulevard, Palo Alto, California, and it operates in the prepackaged software industry under the SIC code 7372.
InvestingPro Insights
Amidst the news of Intapp, Inc. (NASDAQ:INTA) COO Donald F. Coleman's recent stock transactions, investors are keen on understanding the company's financial health and market performance. According to InvestingPro data, Intapp has a market capitalization of approximately $2.81 billion, with a notable revenue growth of 23.81% over the last twelve months as of Q3 2024. This growth is a positive signal for potential investors, reflecting the company's ability to increase its sales figures.
Despite not being profitable in the last twelve months, analysts have a positive outlook, as evidenced by 10 analysts revising their earnings upwards for the upcoming period. This optimism is further bolstered by the company's strong return over the last month, showcasing a 19.83% price total return, which could be an indicator of growing investor confidence in Intapp's market position and future prospects. Additionally, the company's gross profit margin stands robust at 69.87%, demonstrating its efficiency in managing production costs relative to its revenue.
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Investors considering Intapp as part of their portfolio can visit https://www.investing.com/pro/INTA for a comprehensive analysis, including the company's balance sheet strength, holding more cash than debt, and the prediction by analysts that the company will turn profitable this year. These InvestingPro Tips could prove to be instrumental in making informed investment decisions.
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