Carmignac Gestion Has $7.43 Million Stock Position in Intuit Inc. $INTU

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Carmignac Gestion reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,136 shares of the software maker's stock after selling 949 shares during the quarter. Carmignac Gestion's holdings in Intuit were worth $7,433,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Copia Wealth Management acquired a new position in Intuit during the 4th quarter valued at $25,000. Heck Capital Advisors LLC acquired a new position in Intuit during the 4th quarter valued at $28,000. Olde Wealth Management LLC acquired a new position in Intuit during the 1st quarter valued at $37,000. Atlantic Edge Private Wealth Management LLC raised its stake in Intuit by 523.1% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock valued at $50,000 after purchasing an additional 68 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new position in Intuit during the 1st quarter valued at $50,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on INTU shares. Evercore ISI upped their target price on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. UBS Group set a $750.00 price target on shares of Intuit and gave the company a "neutral" rating in a report on Friday, May 23rd. Citigroup boosted their price target on shares of Intuit from $789.00 to $815.00 and gave the company a "buy" rating in a report on Friday, August 15th. Finally, Barclays reissued an "overweight" rating and issued a $815.00 price target (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $809.86.

Intuit Stock Performance

Intuit stock traded down $1.39 on Thursday, hitting $697.76. The company's stock had a trading volume of 2,497,899 shares, compared to its average volume of 1,726,857. The company has a fifty day moving average price of $758.91 and a 200-day moving average price of $673.86. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70. The firm has a market cap of $194.64 billion, a P/E ratio of 56.64, a price-to-earnings-growth ratio of 2.69 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the firm earned $9.88 EPS. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 882 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total value of $689,397.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 2,591 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the transaction, the chief financial officer owned 768 shares in the company, valued at approximately $600,744.96. This trade represents a 77.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock worth $209,725,054 in the last quarter. 2.68% of the stock is owned by corporate insiders.

About Intuit

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.