Argonautica Private Wealth Management Inc. Reduces Holdings in Intuit Inc. (NASDAQ:INTU)

Argonautica Private Wealth Management Inc. cut its position in Intuit Inc. (NASDAQ:INTU) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,269 shares of the software maker’s stock after selling 94 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in Intuit were worth $2,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Weil Company Inc. grew its position in shares of Intuit by 2.6% during the fourth quarter. Weil Company Inc. now owns 5,898 shares of the software maker’s stock worth $3,707,000 after buying an additional 149 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in Intuit by 4.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 5,033 shares of the software maker’s stock worth $3,163,000 after acquiring an additional 216 shares in the last quarter. Kirtland Hills Capital Management LLC raised its stake in shares of Intuit by 1.6% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 4,809 shares of the software maker’s stock valued at $3,023,000 after purchasing an additional 74 shares in the last quarter. FFT Wealth Management LLC lifted its position in shares of Intuit by 41.9% during the fourth quarter. FFT Wealth Management LLC now owns 1,787 shares of the software maker’s stock worth $1,123,000 after purchasing an additional 528 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Intuit by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock worth $1,499,744,000 after purchasing an additional 88,487 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. This represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,014 shares of company stock worth $140,855,687. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Morgan Stanley boosted their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Redburn Atlantic began coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Stifel Nicolaus dropped their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $726.71.

Intuit Trading Down 2.0 %

Intuit stock opened at $555.63 on Wednesday. The stock has a market cap of $155.53 billion, a P/E ratio of 53.94, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $607.70 and its 200-day simple moving average 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.