Sone Capital Management LLC Buys Shares of 21,791 Intuit Inc. (NASDAQ:INTU)

Sone Capital Management LLC bought a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 21,791 shares of the software maker's stock, valued at approximately $13,696,000. Intuit comprises 1.7% of Sone Capital Management LLC's investment portfolio, making the stock its 11th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Intuit in the 4th quarter worth about $25,000. NewSquare Capital LLC raised its stake in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Intuit in the 4th quarter worth about $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit in the 4th quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the 4th quarter worth about $28,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Ratings Changes

INTU has been the subject of several analyst reports. Barclays lifted their price objective on shares of Intuit from $775.00 to $815.00 and gave the stock an "overweight" rating in a research note on Friday. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. Jefferies Financial Group increased their target price on Intuit from $735.00 to $850.00 and gave the stock a "buy" rating in a report on Friday. Finally, Piper Sandler reissued an "overweight" rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus target price of $785.33.

Intuit Price Performance

Shares of INTU traded up $54.06 during mid-day trading on Friday, reaching $720.13. The company had a trading volume of 5,325,389 shares, compared to its average volume of 1,629,990. The company's 50 day simple moving average is $616.76 and its 200 day simple moving average is $621.21. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $734.18. 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 company has a market capitalization of $201.32 billion, a price-to-earnings ratio of 69.92, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the company posted $9.88 EPS. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 in the last 90 days. Corporate insiders own 2.68% of the company's stock.

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.