Intuit Inc. (NASDAQ:INTU) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd lessened its position in Intuit Inc. (NASDAQ:INTU) by 63.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,000 shares of the software maker’s stock after selling 1,750 shares during the period. Cumberland Partners Ltd’s holdings in Intuit were worth $628,000 at the end of the most recent reporting period.

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

Insider Activity at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were 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 directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $579.08 on Friday. The firm has a market cap of $162.10 billion, a price-to-earnings ratio of 56.22, a P/E/G ratio of 2.86 and a beta of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $614.05 and a 200 day simple moving average of $628.50.

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

Analyst Ratings Changes

Several research analysts have issued reports on INTU shares. Jefferies Financial Group lifted their price target 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. Piper Sandler restated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus decreased their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit 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.