Intuit Inc. (NASDAQ:INTU) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 16.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,127 shares of the software maker’s stock after selling 3,460 shares during the quarter. Mizuho Securities USA LLC’s holdings in Intuit were worth $11,257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. LGT Financial Advisors LLC purchased a new stake in shares of Intuit during the second quarter worth about $25,000. Cultivar Capital Inc. bought a new stake in Intuit in the second quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in Intuit in the second quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit in the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in Intuit in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Piper Sandler restated an “overweight” rating and issued a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Bank of America upped their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $737.06.

Intuit Trading Up 1.0 %

Shares of NASDAQ:INTU opened at $650.60 on Thursday. The stock has a market capitalization of $182.25 billion, a PE ratio of 62.26, a P/E/G ratio of 3.15 and a beta of 1.25. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The firm has a fifty day moving average price of $634.46 and a 200 day moving average price of $630.89. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. This represents a 89.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 over the last ninety days. Company insiders own 2.90% of the company’s stock.

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.