Flossbach Von Storch SE Sells 5,212 Shares of Intuit Inc. (NASDAQ:INTU)

Flossbach Von Storch SE lowered its position in Intuit Inc. (NASDAQ:INTU) by 12.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,600 shares of the software maker’s stock after selling 5,212 shares during the period. Flossbach Von Storch SE’s holdings in Intuit were worth $23,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Intuit in the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Intuit in the 3rd quarter worth approximately $27,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. Scotiabank initiated coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Finally, Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $726.53.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly 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 sold a total of 293,014 shares of company stock valued at $188,992,187 over the last 90 days. 2.68% of the stock is owned by company insiders.

Intuit Price Performance

Shares of NASDAQ INTU opened at $582.19 on Thursday. The firm has a 50-day simple moving average of $615.92 and a 200-day simple moving average of $628.85. The stock has a market capitalization of $162.97 billion, a price-to-earnings ratio of 56.52, a price-to-earnings-growth ratio of 2.86 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

About Intuit

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.