Baron Funds, an investment management company, released its “Baron Discovery Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund (Institutional Shares) returned 4.57% underperforming the 7.58% return for the Russell 2000 Growth Index. The firm is optimistic about the Fund’s prospects for 2024. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Baron Discovery Fund featured stocks like Intapp, Inc. (NASDAQ:INTA) in the first quarter 2024 investor letter. Headquartered in Palo Alto, California, Intapp, Inc. (NASDAQ:INTA) offers industry-specific cloud-based software solutions. On May 14, 2024, Intapp, Inc. (NASDAQ:INTA) stock closed at $37.36 per share. One-month return of Intapp, Inc. (NASDAQ:INTA) was 19.71%, and its shares gained 0.54% of their value over the last 52 weeks. Intapp, Inc. (NASDAQ:INTA) has a market capitalization of $2.743 billion.
Baron Discovery Fund stated the following regarding Intapp, Inc. (NASDAQ:INTA) in its first quarter 2024 investor letter:
We also initiated a position in Intapp, Inc. (NASDAQ:INTA). Founded in 2000, Intapp provides cloud-based software for regulated professional services industries such as legal, accounting, consulting, private capital markets, and investment banking. Intapp’s software helps manage and automate many of the administrative workflows unique to these industries, such as clearing conflicts for new engagements, onboarding new clients, recording billable hours, and establishing regulatory walls between divisions. Its DealCloud suite also functions as a deal lifecycle management and customer relationship management system that has become the industry standard in private equity and investment banking. Intapp serves more than 2,400 customers, including 96 of the top 100 American law firms, 15 of the top 20 accounting firms, and 1,600 leading financial services firms…” (Click here to read the full text)
A computer engineer seated in front of several connected consoles, illustrating the depth of cloud services offered by the company.
Intapp, Inc. (NASDAQ:INTA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Intapp, Inc. (NASDAQ:INTA) at the end of the fourth quarter which was 15 in the previous quarter.
In another article we discussed Intapp, Inc. (NASDAQ:INTA) and shared ClearBridge Small Cap Growth Strategy’s views on the company. ClearBridge Small Cap Growth Strategy added Intapp, Inc. (NASDAQ:INTA) to its portfolio in the first quarter due to its long-term growth potential. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
