Cresset Asset Management LLC Cuts Holdings in Intuit Inc. $INTU

Key Points

• Cresset Asset Management LLC reduced its stake in Intuit by 2.0%, selling 616 shares, leaving them with a total of 29,817 shares valued at approximately $18.3 million.
• Several institutional investors increased their holdings in Intuit, with Financial Management Professionals Inc. raising its stake by 18.4% during the first quarter.
• Intuit's share price recently received upgraded price targets from analysts, with Piper Sandler increasing their target to $825.00 and Royal Bank of Canada raising theirs to $850.00.

Cresset Asset Management LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,817 shares of the software maker's stock after selling 616 shares during the quarter. Cresset Asset Management LLC's holdings in Intuit were worth $18,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of INTU. Copia Wealth Management purchased a new position in Intuit in the fourth quarter worth $25,000. Heck Capital Advisors LLC bought a new stake in Intuit during the fourth quarter worth about $28,000. Olde Wealth Management LLC purchased a new position in shares of Intuit in the 1st quarter worth about $37,000. Atlantic Edge Private Wealth Management LLC increased its position in shares of 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 bought a new stake in Intuit in the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

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

Wall Street Analysts Forecast Growth

Several research firms have commented on INTU. Stifel Nicolaus lifted their price target on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $850.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. BMO Capital Markets upped their price target on shares of Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. KeyCorp reiterated an "overweight" rating and issued a $850.00 price objective (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Intuit has an average rating of "Moderate Buy" and a consensus target price of $809.86.

Intuit Trading Down 0.3%

NASDAQ:INTU traded down $1.88 during trading hours on Wednesday, hitting $699.15. The company had a trading volume of 2,094,285 shares, compared to its average volume of 1,775,876. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a 50-day moving average price of $761.59 and a 200 day moving average price of $673.01. The company has a market capitalization of $195.03 billion, a PE ratio of 56.75, a price-to-earnings-growth ratio of 2.76 and a beta of 1.28. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS 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 during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the business posted $9.88 earnings per share. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. Intuit has set its Q4 2025 guidance at 2.630-2.680 EPS. FY 2025 guidance at 20.070-20.120 EPS. On average, equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit 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.