Exploring Intapp, Inc. (INTA) Investor Profile: Who’s Buying and Why?

You're looking at Intapp, Inc. (INTA) and seeing the massive institutional ownership-nearly 90% of the stock is held by the big players-and you have to ask: who's buying this much, and what's the real thesis behind it?

Honestly, the answer is in the numbers, and they're defintely compelling. For the fiscal year 2025, Intapp posted total revenue of $504.1 million, a solid 17% jump year-over-year, which is the kind of growth that keeps firms like The Vanguard Group and BlackRock, Inc. deeply invested, holding millions of shares. Plus, the shift to cloud is real: Cloud Annual Recurring Revenue (ARR) hit $383.1 million as of June 30, 2025, showing a strong moat (competitive advantage). So, while the CEO, John T. Hall, recently sold 8,000 shares for about $338,691, the smart money is still overwhelmingly long, betting on the company's non-GAAP operating income of $75.6 million to keep climbing as their AI-powered solutions become indispensable to legal and financial firms. Let's dive into the 13F filings to see the exact moves and what they tell us about the future.

Who Invests in Intapp, Inc. (INTA) and Why?

You're looking at Intapp, Inc. (INTA) and trying to figure out who is driving the stock and what their endgame is. The direct takeaway is that Intapp is overwhelmingly an institutional play, with nearly 90% of the company owned by large funds who are betting on its specialized vertical software and aggressive cloud-based growth strategy.

Key Investor Types: The Institutional Dominance

The investor base for Intapp, Inc. is not a democracy; it's an oligarchy of large institutions. As of the most recent filings (Q3 2025), institutional investors hold a massive stake, accounting for approximately 89.96% of the company's stock. This high concentration means that big movements in the stock price are defintely driven by the decisions of a few hundred major funds, not by retail investors.

The top holders are a mix of sovereign wealth, passive index funds, and active managers. This mix shows a dual commitment: a baseline for passive inclusion and a significant conviction from active funds. BlackRock, Inc. and Vanguard Group Inc. are major players, holding 5.54% and 8.31% of the shares, respectively, as of late Q3 2025. The largest single holder, Temasek Holdings (Private) Ltd, a Singaporean sovereign wealth fund, holds an even larger position at 20.93%. Here's the quick math: a few institutions control a huge portion of the float, so their buying or selling moves the needle fast.

• Institutional Investors: Own ~89.96%; includes mutual funds, pension funds, and endowments.
• Hedge Funds: Show high activity, with 168 institutions adding shares and 124 decreasing positions in Q2/Q3 2025.
• Retail Investors: Hold the remaining float, but their influence is minor compared to the institutional block.

Investment Motivations: Betting on Cloud and AI Growth

The motivation for these large investors is pure growth, plain and simple. Intapp is a Software-as-a-Service (SaaS) company focused on highly regulated, high-value professional services markets-legal, accounting, and capital markets. They aren't paying a dividend, so you're not here for income.

The core attraction is the company's accelerating shift to the cloud. In fiscal year 2025 (FY2025), Intapp's annual recurring revenue (ARR) from cloud products grew by a strong 29.12% year-over-year. This is a key metric for SaaS valuations. Plus, the company is leaning hard into its applied AI strategy, launching new AI solutions that enhance its DealCloud and Intapp Time products. This innovation is what justifies the bullish analyst consensus target price of $61.13, which suggests a potential upside of 58.35% from the stock's price in late 2025.

The financial picture is a classic growth-stock narrative: the company is not yet profitable, posting a negative EPS of -$0.23 for the current fiscal year, but it generates a healthy Free Cash Flow of $124.6 million. That cash cushion allows for continued investment in growth and strategic moves, like the April 2025 acquisition of TermSheet for $51.41 million to boost its DealCloud product.

Investment Strategies: Growth, Momentum, and Turnaround

The strategies in play are varied, reflecting the different types of institutional money holding the stock. You see a clear split between passive, long-term holders and more active, tactical players.

Long-Term Growth Holding: Firms like Vanguard and BlackRock, Inc. are essentially long-term holders, buying in because Intapp is a leader in its vertical software niche and is included in key growth indices. They are betting on the multi-year thesis of cloud migration and market consolidation. This strategy is patient, looking past short-term volatility.

Momentum and Tactical Trading: Hedge funds and active managers are driving the quarterly churn. We saw 167 institutional investors add shares in Q2 2025, while 109 decreased their positions, showing a high degree of tactical rotation. This activity often focuses on short-term catalysts, like the strong Q4 FY2025 revenue beat of $135 million (up 18% year-over-year) or the authorized $150.00 million share repurchase program.

Value Investing with a Growth Tilt: The stock has faced a challenging period, with the price declining nearly 48% over a six-month period leading up to August 2025. This sharp drop, combined with the strong growth metrics, attracts investors who see the stock as a growth company trading at a value-like price-a classic deep-value growth opportunity. The market is pricing in risk, but the fundamentals point to a potential turnaround. If you want to dive deeper into the core financial health, you should check out Breaking Down Intapp, Inc. (INTA) Financial Health: Key Insights for Investors.

The key risk remains the translation of high cloud adoption into sustained client retention, which is why active investors are watching the net revenue retention rate so closely. The institutional conviction is there, but they demand flawless execution on the cloud transition.

Institutional Ownership and Major Shareholders of Intapp, Inc. (INTA)

You want to know who is buying Intapp, Inc. (INTA) and why, and the short answer is: The institutions are firmly in control. As a seasoned analyst, I look at the ownership structure first because it tells you who has the biggest vote in the boardroom, and for Intapp, that message is clear.

Institutional investors-the big money like mutual funds, pension funds, and endowments-own a staggering percentage of the company. As of the latest filings in late 2025, institutional ownership sits at approximately 87.57% to 89.96% of the total outstanding shares. That's a high-conviction signal, but it also means the stock is highly sensitive to their collective sentiment. One big fund manager's decision can move the price.

Top Institutional Investors: Who Holds the Keys?

The shareholder list for Intapp, Inc. is dominated by a mix of passive index giants and active asset managers. This combination suggests that a large portion of the stock is held for broad market exposure, while a smaller, more influential group is making active, strategic bets. Here's a look at the top holders based on September 30, 2025, 13F filings, which represent the third fiscal quarter of 2025 data:

The presence of Temasek Holdings, a sovereign wealth fund, as a top holder with a massive 17.15 million shares, is noteworthy. This isn't a typical mutual fund play; it suggests a long-term, strategic view on the professional services software market. Plus, seeing Vanguard Group Inc. and BlackRock, Inc. near the top is standard for any large-cap stock, reflecting the massive flow into passive index funds.

Changes in Ownership: A High-Activity Quarter

The third quarter of fiscal year 2025 was a period of high churn, not a simple accumulation or distribution. This tells me the smart money is re-evaluating their positions, likely based on the company's recent performance and the broader economic outlook for enterprise software. The data shows a near-even split in activity:

• Institutions reporting Increased Positions: 155 holders
• Institutions reporting Decreased Positions: 150 holders

This is a healthy sign of price discovery and portfolio rebalancing, not a panic exit or a stampede in. For instance, in Q2 2025, we saw Westfield Capital Management Co LP add a significant 748,884 shares, while Invesco Ltd. removed 621,549 shares. This kind of two-sided action is common when a stock is transitioning from a high-growth phase to a more mature, cash-flow-focused story. If you want to dig deeper into the company's fundamentals, check out Breaking Down Intapp, Inc. (INTA) Financial Health: Key Insights for Investors.

Impact of Institutional Investors: Strategy and Stock Price

When institutions own nearly 90% of a company, they don't just influence the stock price; they are the market for that stock. Their role is twofold: price stability and strategic oversight.

First, the sheer size of passive holders like Vanguard and BlackRock creates a stable floor for the stock price. They buy and hold, reducing day-to-day volatility. Second, the active managers and strategic holders like Temasek demand performance and capital efficiency. Their influence is evident in recent corporate strategy.

A concrete example is the $150 million common stock repurchase program authorized by Intapp's Board of Directors in August 2025. This move is defintely a nod to institutional pressure to return capital to shareholders. It signals to the market that management believes the stock is undervalued and is a more efficient use of cash than other capital expenditures. When the big funds see a management team acting decisively to boost shareholder returns, it reinforces their conviction, which can provide a powerful tailwind for the stock price.

The key takeaway is that Intapp's strategy is now inextricably linked to the expectations of its institutional base. They expect continued growth in recurring revenue, but also increasingly efficient use of capital, which the buyback program directly addresses.

Key Investors and Their Impact on Intapp, Inc. (INTA)

You want to know who is buying Intapp, Inc. (INTA) and why, and the short answer is: the giants of the financial world are the primary owners, and they are betting on the company's aggressive shift to cloud-based, artificial intelligence (AI) solutions. Institutional investors-think massive mutual funds, pension funds, and hedge funds-hold a commanding stake of nearly 90% of the company's shares.

This level of institutional ownership, sitting at roughly 89.96% as of late 2025, is a clear signal. It means the stock's price movements are defintely driven by large-scale capital flows, not just retail sentiment. When the big players move, the stock moves. The core of this investor base is composed of the world's largest asset managers, whose presence lends a powerful, stabilizing force to the stock.

The Dominant Institutional Footprint

The investor profile for Intapp, Inc. is dominated by passive investment powerhouses and a few key early backers. These are the funds that own a piece of nearly every major public company, so their stake is often a vote of confidence in the long-term, structural growth story, especially in the vertical software-as-a-service (SaaS) space. The largest holders are exactly who you'd expect to see at the top of a growing tech company's cap table:

• Vanguard Group Inc.: The largest institutional holder, owning 6,652,139 shares valued at approximately $388,352,000 as of the first quarter of 2025. Their stake is largely passive, reflecting Intapp's inclusion in various index funds.
• BlackRock, Inc.: Another top shareholder, BlackRock's position is similarly tied to their massive index and exchange-traded fund (ETF) offerings, anchoring the stock with stable, long-term capital.
• Temasek Holdings (Private) Ltd: A notable early investor, this Singaporean sovereign wealth fund's continued presence signals a long-term belief in the company's strategic vision and global market opportunity.

You can see the company's long-term strategy that attracts these investors in its Mission Statement, Vision, & Core Values of Intapp, Inc. (INTA).

Active Money: Recent Moves and the Growth Bet

Beyond the passive giants, a significant number of active managers have been adjusting their positions, which tells a more nuanced story about the near-term outlook. This is where you see conviction-or a lack thereof-in the company's ability to execute on its cloud and AI transition.

The overall trend in 2025 has been net institutional buying, driven by the company's strong fiscal year 2025 performance. Intapp, Inc. reported full-year 2025 revenue of $504.1 million, a 17% increase year-over-year, with Non-GAAP EPS hitting $0.94. This is a growth story, plain and simple.

Here's the quick math on who was moving capital in the first half of fiscal year 2025:

The buying activity from firms like Artisan Partners and Westfield Capital Management suggests a belief that the market is still undervaluing Intapp, Inc.'s transition to a high-margin, cloud-first business model. The company's Cloud Annual Recurring Revenue (ARR) reached $383.1 million as of June 30, 2025, up 29% year-over-year, which is the key metric active managers are focused on.

Investor Influence and Actionable Signals

The high institutional ownership and strong growth metrics have led to a direct action that benefits shareholders: a significant capital return program. In August 2025, the Board of Directors authorized a common stock repurchase program of up to $150.00 million. This is a classic move, signaling to the market that the company's management believes its stock is undervalued and is willing to put its strong operating cash flow-which hit $123.5 million for fiscal year 2025-to work.

What this estimate hides, however, is the mixed signal from insiders. While institutions are largely buying, CEO John T. Hall sold 8,000 shares in November 2025 for approximately $338,691, which was part of a pre-arranged trading plan. This isn't necessarily a red flag, but it's a reminder that even with strong institutional backing, you need to watch for executives taking profits, especially when the stock price is volatile.

Your next step is to track the execution of that $150 million share repurchase program; a slow pace might indicate a lack of conviction from the company itself.

Market Impact and Investor Sentiment

You're looking at Intapp, Inc. (INTA) and trying to read the tea leaves on its major shareholders-a smart move because institutional money dictates the stock's near-term volatility. The quick takeaway is that sentiment is currently neutral-to-cautiously-optimistic among the largest holders, but the market is still digesting mixed signals, especially the high volume of insider selling.

As of late 2025, institutional ownership is massive, sitting around 89.69% of the float. This means the stock is largely controlled by big money-pension funds, mutual funds, and asset managers-not retail investors. When institutions hold this much, their collective action is the market. The largest players are not just holding; many were adding to their positions in the first half of the year, signaling a long-term belief in the company's Mission Statement, Vision, & Core Values of Intapp, Inc. (INTA).

Here's a snapshot of the top institutional power players and their reported holdings, which anchor the stock's current $3.32 billion market capitalization:

• Temasek Holdings: Holds the largest stake at 20.93%.
• Vanguard Group Inc.: A passive giant, holding 8.31%.
• BlackRock, Inc.: Another index fund heavyweight, owning 5.54% of shares.

Recent Market Reactions: Reading the Institutional Flow

The stock's price action reflects a tug-of-war. On one hand, the Intapp, Inc. share price was trading at $41.55 as of November 21, 2025. The stock has had a rougher year, with a year-to-date share price return of -40.28%. That's a challenging period, defintely.

But here's the quick math on the positive side: Intapp, Inc.'s board authorized a $150.00 million share repurchase plan in August 2025. A buyback of that size, representing up to 5.2% of shares, is a clear signal from management that they believe the stock is undervalued. Plus, the stock has gained 4.5% over the last three months, suggesting a recent shift in sentiment.

What this estimate hides is the significant insider selling. Over the past year, there have been 99 insider sells against zero insider buys. For example, the CEO sold 8,000 shares in August 2025, valued at $347,680.00. This kind of consistent selling by executives introduces a layer of risk, even if the institutions are accumulating.

Analyst Perspectives: The Impact of Key Investors

Wall Street analysts are not entirely unified, but the consensus rating for Intapp, Inc. is generally a Hold. However, a group of 7 analysts has a consensus Buy rating, with a price target of $58.14. This suggests a potential upside of over 30% from the current trading price of $41.55.

The impact of the major institutional holders like Vanguard and BlackRock is less about a directional call and more about stability. Their massive, passive holdings provide a foundational demand for the stock, reducing the extreme volatility that a smaller-cap stock might face. They are not chasing a quick trade; they are buying the market.

The key concern analysts point to is the company's path to profitability. While the SaaS segment grew to approximately 65.8% of total sales by the end of the 2025 fiscal year, the company is still expected to post a negative earnings per share (EPS) of -$0.14 for the current fiscal year. The institutional investors are betting on the long-term growth story, specifically the Cloud Annual Recurring Revenue (ARR) which rose 28.3% year-over-year.

Here's how the analyst consensus breaks down:

The clear action for you: monitor the next 13F filings (institutional holdings reports) to see if those passive giants are still accumulating, and watch for any shift in insider selling. If the institutional accumulation continues while the insider selling slows, that's a powerful signal.