Intuit Inc. (NASDAQ:INTU) Shares Bought by FFT Wealth Management LLC

FFT Wealth Management LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 41.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,787 shares of the software maker’s stock after acquiring an additional 528 shares during the quarter. FFT Wealth Management LLC’s holdings in Intuit were worth $1,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. R Squared Ltd acquired a new position in shares of Intuit during the 4th quarter valued at $25,000. Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the fourth quarter worth about $28,000. Sugar Maple Asset Management LLC acquired a new position in Intuit during the fourth quarter worth about $29,000. Finally, Denver PWM LLC bought a new stake in Intuit in the third quarter worth about $32,000. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In related news, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock worth $140,855,687 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on INTU. Piper Sandler restated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. Scotiabank began coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $726.71.

Intuit Stock Down 2.0 %

Intuit stock opened at $555.63 on Wednesday. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $155.53 billion, a PE ratio of 53.94, a P/E/G ratio of 2.85 and a beta of 1.24. The firm’s 50 day moving average price is $607.70 and its two-hundred day moving average price is $627.55.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.