Intapp Beats Four Times; CEO Sells From $43 to $36
Intapp CEO John T Hall has sold INTA shares on seven separate dates from August 24 through October 1, 2026, at prices declining from $43.27 to $36.51, even as the company has beaten analyst EPS estima
Intapp Beats Four Times; CEO Sells From $43 to $36
NEW YORK, October 3 —
When a CEO sells shares on seven separate dates, with prices declining from $43.27 to $36.51 and breaking through the $40.29 analyst consensus target on the way down, the conventional read is bearish insider signaling. Intapp, Inc. (INTA) has beaten EPS estimates four consecutive quarters, most recently by 13.8%, turning that read into a genuine puzzle.
- Four-quarter EPS beat streak: 25.9%, 26.9%, 2.1%, and 13.8% above consensus in the most recent quarter.
- CEO Hall's single largest sale day: $2.71M on August 24; CFO Morton sold $409K the same date.
- Trailing FCF $161M on $580M revenue; stock at $36.49 vs. $40.29 analyst consensus target.
Recurring Revenue, Recurring Beats
Intapp builds AI-powered SaaS for professional and financial services firms, with DealCloud as the flagship: CRM, deal management, and relationship intelligence for private equity sponsors and investment banks. The platform's AI assistant, Assist, automates workflows across deal sourcing and compliance. Revenue has grown 13% year-over-year to $580M trailing, with a 75.8% gross margin reflecting a durable recurring-revenue model. Four consecutive non-GAAP EPS beats, ranging from 13.8% to 26.9% above consensus, show a company delivering above analyst expectations. At 18.7x forward P/E and a $2.79bn market cap, a P/E calculator puts those multiples in sector context.
The Selling Pattern
On August 19, Intapp granted Hall 85,810 RSU shares, CFO Morton 64,523, CPO Jampol 32,058, and President Harrison 29,675, per SEC filings. The following day brought routine tax-withholding dispositions at $40.09 across all four. What followed is less routine: Hall sold $2.71M in open-market shares on August 24, with Morton adding $409K on the same date; Jampol sold $209K on September 2. Hall sold again on August 31 at $43.27, the documented peak, and continued on September 8, 14, 21, and 30 and October 1, each time at lower prices. Total open-market insider purchases across all executives over the 90-day period: $0.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| INTA | $2.8B | 18.7x | -4.4% |
| ALKT | $1.5B | 12.7x | -42.1% |
| BRZE | $2.9B | 25.9x | -9.7% |
| EVCM | $1.6B | 11.3x | -13.2% |
| VERX | $1.9B | 11.7x | -50.9% |
| FLYW | $2.1B | 13.0x | +29.6% |
What the Next Quarter Resolves
The next earnings print is the clearest test. If Intapp extends its EPS beat streak to five quarters and revenue growth holds at or above 13%, the persistent selling reads more easily as routine wealth management after a vesting cycle. If beat magnitude narrows or guidance disappoints, Hall's pattern of selling through $36.51, well below the $40.29 consensus target, warrants a harder look. The forward P/E of 18.7x leaves little room for guidance cuts, and the gap to consensus closes only on what the next call delivers. Run the free Intapp, Inc. deep-dive →
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Intapp CEO John T Hall has sold INTA shares on seven separate dates from August 24 through October 1, 2026, at prices declining from $43.27 to $36.51, even as the company has beaten analyst EPS estimates for four consecutive quarters. The CEO's unbroken selling streak — now executing at prices below the $40.29 analyst consensus target — sits uneasily against a record of consistent outperformance.