50,958 Shares in Intuit Inc. $INTU Acquired by Varma Mutual Pension Insurance Co

Key Points

• Varma Mutual Pension Insurance Co. acquired 50,958 Intuit shares worth approximately $13.3 million in the second quarter. Institutional investors collectively own 83.66% of Intuit’s outstanding stock.
• Analyst sentiment remains mixed: Intuit has a consensus “Moderate Buy” rating and an average price target of $449.65, but several firms have recently cut targets or downgraded the stock.
• Intuit’s growth outlook is supported by TurboTax, Credit Karma and QuickBooks, while the company faces risks from valuation concerns, artificial-intelligence disruption and a securities-fraud class-action lawsuit alleging misleading disclosures about its tax business.

Varma Mutual Pension Insurance Co bought a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 50,958 shares of the software maker's stock, valued at approximately $13,300,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Joseph Group Capital Management acquired a new stake in shares of Intuit in the fourth quarter valued at $25,000. Intesa Sanpaolo Wealth Management acquired a new position in Intuit during the 4th quarter worth $25,000. MidFirst Bank acquired a new position in Intuit during the 2nd quarter worth $28,000. HHM Wealth Advisors LLC increased its holdings in Intuit by 75.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker's stock worth $30,000 after purchasing an additional 30 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Intuit during the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s TurboTax, Credit Karma and QuickBooks businesses remain central to the bullish case. Analysts say the company is building a year-round consumer financial platform and using cross-selling to increase engagement and average revenue per user. Intuit Consumer Flywheel Gains: Can Cross-Selling Sustain Higher ARPU?
• Positive Sentiment: Some analysts see potential for an upside earnings surprise, citing valuation compression, raised guidance and continued momentum in Intuit’s key growth engines. Bank of America maintained a Buy rating and a $400 price target, supporting investor confidence before the report. Intuit: Resilient Growth Drivers and Attractive Valuation Support Buy Rating
• Neutral Sentiment: Options-oriented coverage highlights the possibility of generating income by selling calls against existing INTU shares. The strategy may provide an attractive yield but limits upside if the stock rises above the option’s strike price. Get Paid 16% A Year To Hold INTU Stock You Already Own
• Neutral Sentiment: Wall Street’s outlook is mixed ahead of earnings. Piper Sandler reaffirmed an Underweight rating, while another valuation update reduced its fair-value estimate from $488.17 to $449.20, reflecting concerns about growth expectations, valuation and potential artificial-intelligence risks. Piper Sandler Reaffirms Underweight Rating for Intuit
• Negative Sentiment: Several law firms are publicizing a securities-fraud class action against Intuit and certain officers. The lawsuit alleges that the company made material misstatements or omissions about the strength of its tax-related business and TurboTax growth disclosures. Investors face a September 8 deadline to seek lead-plaintiff status. The legal claims are allegations and could create reputational, financial and investor-confidence risks. Intuit Securities Fraud Class Action Deadline Alert

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INTU. Truist Financial reiterated a "hold" rating and issued a $350.00 price objective (down from $410.00) on shares of Intuit in a research note on Monday, August 3rd. Freedom Capital downgraded shares of Intuit from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. The Goldman Sachs Group cut shares of Intuit from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $519.00 to $276.00 in a report on Tuesday, June 2nd. Daiwa Securities Group dropped their price objective on shares of Intuit from $640.00 to $500.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $400.00 price objective on shares of Intuit in a research report on Thursday, May 21st. Twenty equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $449.65.

Insider Buying and Selling

In other news, Director Richard L. Dalzell sold 284 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total value of $74,498.88. Following the completion of the transaction, the director owned 11,758 shares in the company, valued at approximately $3,084,358.56. This represents a 2.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 500 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of $309.71 per share, for a total transaction of $154,855.00. Following the completion of the transaction, the director directly owned 1,750 shares in the company, valued at approximately $541,992.50. The trade was a 40.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 1,239 shares of company stock worth $348,354. 2.49% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ INTU opened at $367.00 on Monday. The stock's 50-day simple moving average is $299.09 and its 200-day simple moving average is $359.07. The firm has a market capitalization of $100.39 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.15 and a beta of 0.97. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $705.08. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.45 and a current ratio of 1.45.

Intuit Company Profile

Intuit Inc NASDAQ: INTU is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit's product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.

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