Headinvest LLC Sells 530 Shares of Intuit Inc. (NASDAQ:INTU)

Headinvest LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,502 shares of the software maker's stock after selling 530 shares during the quarter. Intuit accounts for about 1.8% of Headinvest LLC's investment portfolio, making the stock its 12th biggest position. Headinvest LLC's holdings in Intuit were worth $9,743,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in INTU. True North Advisors LLC grew its position in shares of Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker's stock worth $257,000 after buying an additional 17 shares during the period. Great Diamond Partners LLC raised its holdings in shares of Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock worth $394,000 after acquiring an additional 17 shares during the period. Drive Wealth Management LLC lifted its position in Intuit by 2.4% in the 4th quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock valued at $478,000 after acquiring an additional 18 shares in the last quarter. NewSquare Capital LLC boosted its stake in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the period. Finally, Ethos Financial Group LLC increased its holdings in Intuit by 3.7% during the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock worth $319,000 after purchasing an additional 18 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on INTU. Piper Sandler restated an "overweight" rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Citigroup cut their price target on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. Finally, Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Intuit has an average rating of "Moderate Buy" and an average target price of $717.24.

Intuit Trading Down 1.7%

Intuit stock opened at $659.98 on Thursday. The stock has a market cap of $184.51 billion, a P/E ratio of 64.08, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The firm's fifty day moving average price is $613.06 and its 200-day moving average price is $620.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 in the last quarter. Corporate 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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