Magellan Asset Management Ltd Boosts Stock Position in Intuit Inc. $INTU

Key Points

• Magellan Asset Management increased its stake in Intuit by 8.4% to 285,052 shares (about $194.7M), making INTU its 14th-largest holding and reflecting that roughly 83.7% of the stock is owned by institutional investors.
• Intuit announced a multi-year partnership with AI firm Anthropic to build customizable AI agents for QuickBooks and TurboTax with rollouts starting this spring, a catalyst that analysts say strengthens Intuit’s AI roadmap and lifted the stock.
• Offsetting the AI optimism, several brokers have cut price targets and the stock recently touched a 52‑week low; insiders have sold heavily (388,464 shares, ~$255.5M over three months), though the consensus rating remains a "Moderate Buy" with a $726.18 price target.

Magellan Asset Management Ltd lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 8.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 285,052 shares of the software maker's stock after acquiring an additional 22,051 shares during the quarter. Intuit makes up approximately 2.3% of Magellan Asset Management Ltd's holdings, making the stock its 14th biggest position. Magellan Asset Management Ltd owned about 0.10% of Intuit worth $194,665,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Colonial Trust Co SC raised its stake in Intuit by 7.4% during the 3rd quarter. Colonial Trust Co SC now owns 379 shares of the software maker's stock worth $259,000 after acquiring an additional 26 shares during the period. Parr Mcknight Wealth Management Group LLC boosted its position in shares of Intuit by 3.0% in the third quarter. Parr Mcknight Wealth Management Group LLC now owns 3,941 shares of the software maker's stock worth $2,691,000 after purchasing an additional 115 shares during the period. LGT Capital Partners LTD. increased its stake in shares of Intuit by 168.5% in the third quarter. LGT Capital Partners LTD. now owns 97,814 shares of the software maker's stock worth $66,798,000 after purchasing an additional 61,385 shares in the last quarter. Mufg Securities Americas Inc. raised its position in shares of Intuit by 21.4% during the 3rd quarter. Mufg Securities Americas Inc. now owns 7,522 shares of the software maker's stock valued at $5,137,000 after purchasing an additional 1,326 shares during the period. Finally, First Financial Bankshares Inc purchased a new position in shares of Intuit during the 3rd quarter valued at $1,351,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INTU. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Intuit in a report on Wednesday, January 28th. Barclays lowered their price objective on Intuit from $785.00 to $540.00 and set an "overweight" rating on the stock in a research report on Monday. BMO Capital Markets dropped their price objective on Intuit from $810.00 to $624.00 and set an "outperform" rating for the company in a research note on Tuesday, February 10th. Weiss Ratings cut Intuit from a "buy (b-)" rating to a "hold (c)" rating in a research report on Thursday, February 5th. Finally, Independent Research set a $875.00 price target on Intuit in a report on Tuesday, November 18th. Twenty-two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus price target of $726.18.

Insider Buying and Selling at Intuit

In other news, CEO Sasan K. Goodarzi sold 41,000 shares of the company's stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $650.10, for a total transaction of $26,654,100.00. Following the sale, the chief executive officer directly owned 13,611 shares in the company, valued at approximately $8,848,511.10. This represents a 75.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott D. Cook sold 1,402 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $668.02, for a total transaction of $936,564.04. Following the completion of the transaction, the director directly owned 5,668,182 shares of the company's stock, valued at approximately $3,786,458,939.64. The trade was a 0.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 388,464 shares of company stock worth $255,514,393. Company insiders own 2.49% of the company's stock.

Key Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Anthropic partnership — Intuit announced a multi-year tie-up with AI firm Anthropic to build customizable AI agents for QuickBooks/TurboTax and to embed Intuit financial tools into Anthropic products; this deal is being framed as a meaningful step in Intuit’s AI roadmap and helped lift the stock earlier in the session. TipRanks: Intuit Stock Jumps
• Positive Sentiment: Partnership coverage and rollout timing — Coverage reports (PYMNTS, CNBC) add that the companies will start rolling out AI agent experiences in the spring and that Anthropic’s broader partner announcements are lifting software sector sentiment. This supports Intuit’s strategy to accelerate AI features across its ecosystem. PYMNTS: Intuit and Anthropic
• Positive Sentiment: Analyst bullishness — William Blair reiterated a Buy rating, saying the Anthropic partnership strengthens Intuit’s AI roadmap and competitive moat; that institutional endorsement helps underpin the recent uptick. TipRanks: Analyst Note
• Neutral Sentiment: Q2 earnings setup — Analysts expect double‑digit revenue growth for fiscal Q2 with continued momentum across QuickBooks, TurboTax and Credit Karma; upcoming earnings could be a catalyst either way depending on guidance and AI monetization comments. Zacks: Q2 Preview
• Neutral Sentiment: Sector framing — Market commentary argues the software sell-off is separating AI winners from losers; Intuit is cited as a software leader with durable moats, but the piece is more thematic than company‑specific near‑term guidance. MarketBeat: Late-Stage Bull Market
• Negative Sentiment: Analyst price-target cuts — Several firms trimmed Intuit price targets (Wells Fargo to $425, Barclays to $540, BNP Paribas to $340, Susquehanna to $720), reflecting lower near-term expectations and contributing to selling pressure. MarketScreener: Wells Fargo PT
• Negative Sentiment: Technical/valuation stress — The stock recently touched a 52‑week low amid the broader software correction; high short-term volatility and a price now well below recent highs increase downside risk until earnings or clear AI monetization evidence arrives. Investing.com: 52-Week Low

Intuit Stock Performance

NASDAQ:INTU opened at $358.71 on Wednesday. The company has a market cap of $99.82 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 1.47 and a beta of 1.24. Intuit Inc. has a 1 year low of $349.00 and a 1 year high of $813.70. The stock's 50 day simple moving average is $542.43 and its two-hundred day simple moving average is $623.39. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.39 and a quick ratio of 1.39.

About Intuit

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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