Intapp President Dumps 75% of Direct Holdings in $223,000 December Sale

On Dec. 3, 2025, David Benjamin Harrison, President of Industries of Intapp (NASDAQ:INTA), executed an open-market sale of 4,960 directly held shares, totaling approximately $223,100 in proceeds according to the SEC Form 4 filing.

Transaction summary

Metric	Value
Shares sold (direct)	4,960
Transaction value	~$223,095.3
Post-transaction shares (direct)	1,679
Post-transaction value (direct ownership)	~$75,857.2

Transaction value based on SEC Form 4 weighted average purchase price ($44.98); post-transaction value based on Dec. 3, 2025 market close ($44.98).

Key questions

• How significant was the transaction relative to the insider's remaining stake?
  The sale of 4,960 shares accounted for 74.71% of Harrison Benjamin's directly held shares, leaving only 1,679 shares post-transaction -- a marked contraction from his position earlier in the year.
• Did the transaction involve indirect holdings or derivative activity?
  No indirect entities or derivative mechanisms were involved; all shares sold were held directly by the insider, with no activity attributed to trusts or other entities.
• How does this sale compare to the insider’s historical trading pattern?
  This transaction was smaller in absolute share count than the median sale (9,125 shares) during the past year, but the proportion of holdings sold (74.71%) was materially higher due to the lower starting balance, reflecting the impact of declining capacity rather than a shift in disposition strategy.
• What market context surrounded the sale?
  Shares were sold at a weighted average price around $44.98, with the stock closing at $45.18 on the transaction date; this occurred as Intapp’s one-year total return stood at -35.67% as of Dec. 3, 2025, underscoring a period of significant price pressure.

Company overview

Metric	Value
Market capitalization	$3.5 billion
Revenue (TTM)	$508.41 million
Net income (TTM)	-$19.07 million
1-year price change	-32.76%

* 1-year price change calculated using Jan. 5, 2026 as the reference date.

Company snapshot

• Provides industry-specific, cloud-based software solutions, including DealCloud for deal and relationship management and OnePlace for client and engagement lifecycle management.
• Operates a subscription-based business model, generating recurring revenue through direct enterprise sales of its SaaS platforms.
• Serves private capital, investment banking, legal, accounting, and consulting firms primarily in the United States, United Kingdom, and international markets.

Intapp delivers specialized cloud software tailored to the needs of professional and financial services firms, enabling clients to modernize business operations while maintaining regulatory compliance. The company leverages its deep industry expertise and scalable SaaS platforms to address complex workflow, relationship management, and compliance requirements. Intapp’s strategic focus on mission-critical solutions and recurring subscription revenue positions it as a key technology partner for leading firms in its target verticals.

What this transaction means for investors

Intapp's President of Industries substantially reduced his direct holdings as shares traded near the bottom of their 52-week range following a difficult year for the professional services software provider. The sale of 4,960 shares on Dec. 3 represented 75% of the executive's direct stake and left him with just 1,679 shares. Intapp stock is currently down roughly 50% from its high of $77.74 reached earlier in 2025.

The challenging year stems from concerns about growth deceleration as Intapp makes a strategic transition from on-premise software to cloud-based SaaS solutions. While the company beat Q1 fiscal 2026 earnings expectations in November, the stock still fell as investors focused on moderating growth rates and the faster-than-expected decline in legacy on-premise revenue.

Intapp serves law firms, private equity firms, and professional services companies with AI-powered compliance, deal management, and collaboration tools. SaaS revenue grew 27% year over year to $97.5 million, but the company remains unprofitable as it invests heavily in its cloud platform and AI capabilities.

Analysts maintain a buy rating on the stock with a $58 average price target. Growth-oriented investors comfortable with near-term losses and volatile execution during the cloud transition might find value at current levels.

Glossary

Insider: An executive, director, or major shareholder with access to non-public company information.
Open-market sale: The sale of securities by an insider on a public exchange, not through private or pre-arranged transactions.
Direct holdings: Shares owned personally by an individual, not through trusts or other entities.
Indirect holdings: Shares owned through another entity, such as a trust or family member, rather than directly.
Derivative transactions: Trades involving financial contracts whose value is based on underlying assets, such as options or futures.
Form 4: A required SEC filing disclosing insider trades in a company's securities.
Weighted average price: The average price of shares sold, weighted by the number of shares at each price.
Disposition strategy: An insider's approach to selling or reducing their ownership stake in a company.
Capacity (in insider context): The amount of shares an insider still holds and could potentially sell.
Subscription-based business model: A revenue model where customers pay recurring fees for ongoing access to a product or service.
SaaS (Software as a Service): Software delivered online via subscription, rather than installed locally.
TTM: The 12-month period ending with the most recent quarterly report.

Sara Appino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intapp. The Motley Fool has a disclosure policy.