Erste Asset Management GmbH Sells 21,252 Shares of Intuit Inc. $INTU

Key Points

• Erste Asset Management GmbH reduced its holdings in Intuit Inc. by 36.8% in Q1, selling 21,252 shares, bringing their total to 36,425 shares valued at approximately $21.9 million.
• Intuit's shares are currently rated with an average price target of $809.86, with a majority of analysts issuing a "buy" rating following positive quarterly earnings results.
• Insider trading activity has increased, with executives selling a total of 279,800 shares worth over $209 million in the last 90 days, indicating significant changes in management's stock holdings.

Erste Asset Management GmbH trimmed its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 36.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 36,425 shares of the software maker's stock after selling 21,252 shares during the quarter. Erste Asset Management GmbH's holdings in Intuit were worth $21,897,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Copia Wealth Management purchased a new position in Intuit during the 4th quarter valued at $25,000. Heck Capital Advisors LLC purchased a new position in Intuit during the 4th quarter valued at $28,000. Olde Wealth Management LLC purchased a new position in Intuit during the 1st quarter valued at $37,000. Atlantic Edge Private Wealth Management LLC increased its position 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 period. Finally, Hughes Financial Services LLC purchased a new position in Intuit during the 1st quarter valued at $50,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. CLSA assumed coverage on shares of Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price objective on the stock. Bank of America boosted their price objective on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a research report on Wednesday, April 23rd. Evercore ISI boosted their price objective on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Finally, Barclays reissued an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $809.86.

Intuit Stock Down 2.3%

Shares of Intuit stock opened at $701.03 on Wednesday. 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 company has a 50-day moving average of $761.59 and a 200 day moving average of $673.01. The firm has a market cap of $195.55 billion, a price-to-earnings ratio of 56.90, a PEG ratio of 2.76 and a beta of 1.28. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business earned $9.88 EPS. Intuit has set its Q4 2025 guidance at 2.630-2.680 EPS. FY 2025 guidance at 20.070-20.120 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the sale, the executive vice president directly owned 19 shares in the company, valued at approximately $14,704.10. This trade represents a 98.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 882 shares of the firm's stock in a transaction dated 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. Insiders sold 279,800 shares of company stock worth $209,725,054 in the last 90 days. Insiders own 2.68% of the company's stock.

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.

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