BlackRock Inc. Purchases Shares of 26,252,335 Intuit Inc. $INTU

Key Points

• BlackRock acquired 26.25 million Intuit shares worth approximately $6.85 billion, giving it a 9.6% stake. Institutional investors collectively own 83.66% of the company.
• Intuit exceeded quarterly expectations, reporting $12.80 in EPS and $8.56 billion in revenue, with revenue up 10.4% year over year. Analysts see growth opportunities in QuickBooks and the broader mid-market, though the stock remains under pressure and Mizuho recently lowered its price target.
• Investor focus is shifting to Intuit’s August 25 earnings report and the impact of artificial intelligence on TurboTax and QuickBooks. The company also faces heightened scrutiny from securities-fraud lawsuit notices related to TurboTax growth disclosures.

BlackRock Inc. acquired a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,252,335 shares of the software maker's stock, valued at approximately $6,851,859,000. BlackRock Inc. owned about 9.60% of Intuit at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Intuit by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker's stock worth $19,156,152,000 after acquiring an additional 296,448 shares in the last quarter. State Street Corp grew its position in shares of Intuit by 1.4% in the 4th quarter. State Street Corp now owns 13,062,848 shares of the software maker's stock valued at $8,653,092,000 after acquiring an additional 180,069 shares during the period. Geode Capital Management LLC increased its stake in shares of Intuit by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker's stock worth $4,369,488,000 after purchasing an additional 87,451 shares during the last quarter. Morgan Stanley raised its holdings in shares of Intuit by 1.2% in the 4th quarter. Morgan Stanley now owns 5,100,857 shares of the software maker's stock valued at $3,378,912,000 after purchasing an additional 60,910 shares during the period. Finally, Norges Bank acquired a new stake in Intuit in the 4th quarter valued at about $3,058,407,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insiders Place Their Bets

In related news, Director Richard L. Dalzell sold 284 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was 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 of the company's stock, valued at $3,084,358.56. The trade was a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu purchased 500 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $309.71 per share, with a total value of $154,855.00. Following the acquisition, the director owned 1,750 shares in the company, valued at $541,992.50. This trade represents a 40.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 1,239 shares of company stock valued at $348,354. Corporate insiders own 2.49% of the company's stock.

Key Headlines Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s growth opportunity remains substantial: analysts highlighted a nearly $90 billion mid-market opportunity, with advanced QuickBooks and other products potentially offsetting pressure in the do-it-yourself tax business. INTU Targets a Massive Mid-Market Opportunity
• Positive Sentiment: Mizuho lowered its price target to $430 from $500 but maintained an “outperform” rating, implying meaningful upside from recent trading levels. The company also recently exceeded quarterly earnings and revenue expectations, with revenue up 10.4% year over year. Mizuho Intuit Price Target Update
• Neutral Sentiment: Investor attention is focused on Intuit’s upcoming August 25 earnings report, with market discussions centering on expected growth, TurboTax and QuickBooks performance, and whether artificial intelligence will strengthen or disrupt tax and accounting software.
• Negative Sentiment: Several law firms—including Faruqi & Faruqi, Kessler Topaz, Levi & Korsinsky, Schall Brown & Schwartz, and Rosen—issued notices promoting the pending securities-fraud lawsuit. Although these notices do not establish liability or quantify damages, their volume reinforces investor concerns about possible litigation costs, reputational damage, and scrutiny of TurboTax growth disclosures. Intuit Class Action Notice
• Negative Sentiment: The Mizuho target reduction signals that analysts have become more cautious about Intuit’s near-term outlook, even though the firm retained its bullish rating. Mizuho Intuit Price Target Update

Intuit Trading Down 2.9%

INTU stock opened at $335.60 on Tuesday. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $721.54. The company has a market capitalization of $91.80 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.09 and a beta of 0.97. The company's 50-day simple moving average is $292.88 and its 200 day simple moving average is $363.19. 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 (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the previous year, the firm posted $11.65 EPS. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 18.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on INTU shares. TD Cowen raised their price target on Intuit from $304.00 to $328.00 and gave the company a "hold" rating in a report on Tuesday, August 11th. Wolfe Research reissued an "outperform" rating and issued a $400.00 price objective on shares of Intuit in a research report on Thursday, May 21st. Argus cut their target price on shares of Intuit from $580.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, May 22nd. Freedom Capital downgraded shares of Intuit from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Finally, HSBC decreased their price target on shares of Intuit from $897.00 to $707.00 and set a "buy" rating on the stock in a research note on Friday, May 22nd. Nineteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $454.65.

Intuit 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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