Intapp, Inc. (NASDAQ:INTA) Chief Product Officer Thad Jampol has recently sold a portion of his company stock, according to the latest regulatory filings. The transactions, which took place between May 17 and May 20, 2024, consisted of both the acquisition of shares and the sale of a significant number of shares for tax obligations.
Jampol acquired 46,772 shares of Intapp common stock on May 17, which were certified by the audit committee based on the achievement of performance conditions. These shares were part of performance share units granted under the Intapp, Inc. 2021 Omnibus Incentive Plan and became fully vested on May 20. The shares were acquired at no cost, according to the filings.
On May 20, Jampol sold 9,337 shares of common stock at a weighted average price of $36.8759, totaling over $344,310. The sales were conducted in multiple transactions with prices ranging from $36.76 to $37.08. This sale was part of a prearranged 10b5-1 trading plan established in December 2023, intended to cover tax liabilities associated with the vesting of the performance share units.
Following these transactions, Jampol's direct holdings in Intapp decreased to 765,194 shares. Additionally, the filings disclosed indirect ownership through family-related trusts. Shares owned by Jampol's spouse and two trusts, where he serves as a trustee, were reported separately and not included in the sale.
Investors often monitor insider transactions as they provide insights into executives' perspectives on the company's stock value. With Intapp, Inc. being a leading provider of business applications for professional and financial services firms, these transactions by a high-level executive may draw particular interest from the investment community.
InvestingPro Insights
Amidst the recent insider transactions at Intapp, Inc. (NASDAQ:INTA), investors seeking a deeper understanding of the company's financial health can turn to InvestingPro for comprehensive data and analytics. As of the last twelve months leading up to Q3 2024, Intapp holds a market capitalization of $2.81 billion, which can be a testament to the company's size and investor expectations in the competitive tech landscape.
One notable InvestingPro Tip for Intapp is that the company holds more cash than debt on its balance sheet, suggesting a strong liquidity position that could provide resilience in times of economic uncertainty. Additionally, 10 analysts have revised their earnings upwards for the upcoming period, indicating a potential positive outlook on the company's profitability trajectory.
InvestingPro Data metrics reveal a snapshot of the company's financial performance and valuation. Intapp has experienced a substantial revenue growth of 23.81% over the last twelve months, highlighting its ability to expand its business operations effectively. Despite not being profitable over the last twelve months, with a P/E ratio of -60.89, analysts predict the company will be profitable this year. This projection is crucial for investors considering the long-term earnings potential of Intapp.
Moreover, the company has seen a strong return over the last month, with a 19.83% price total return, which could capture the market's recent positive sentiment towards Intapp's stock. However, it is important to note that the company is trading at a high Price / Book multiple of 7.28, which may suggest a premium valuation relative to its book value.
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