True Freedom Investing LLC Makes New Investment in Intuit Inc. $INTU

True Freedom Investing LLC bought a new position in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,804 shares of the software maker’s stock, valued at approximately $2,942,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Joseph Group Capital Management purchased a new position in Intuit during the fourth quarter worth about $25,000. Intesa Sanpaolo Wealth Management purchased a new stake in Intuit in the 4th quarter valued at about $25,000. MidFirst Bank purchased a new stake in Intuit in the 2nd quarter valued at about $28,000. HHM Wealth Advisors LLC lifted its position in shares of Intuit by 75.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock worth $30,000 after buying an additional 30 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of Intuit during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on INTU. Daiwa Securities Group dropped their price target on Intuit from $640.00 to $500.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Bank of America started coverage on Intuit in a research report on Wednesday, May 27th. They set a “buy” rating and a $400.00 target price for the company. Erste Group Bank upgraded Intuit to a “hold” rating in a research note on Monday, April 27th. Royal Bank Of Canada cut their price target on shares of Intuit from $600.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Finally, HSBC reduced their price target on shares of Intuit from $897.00 to $707.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Twenty research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $451.26.

Intuit Price Performance

Shares of NASDAQ INTU opened at $367.00 on Friday. The stock has a fifty day simple moving average of $299.09 and a two-hundred day simple moving average of $359.96. Intuit Inc. has a 1-year low of $252.84 and a 1-year high of $705.08. The firm has a market cap of $100.39 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.15 and a beta of 0.97. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26.

Intuit (NASDAQ:INTU) last issued its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same period in the previous year, the company posted $11.65 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. Analysts anticipate that Intuit Inc. will post 18.19 earnings per share for the current year.

Key Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s TurboTax, Credit Karma and QuickBooks businesses remain central to the bullish case. Analysts say the company is building a year-round consumer financial platform and using cross-selling to increase engagement and average revenue per user. Intuit Consumer Flywheel Gains: Can Cross-Selling Sustain Higher ARPU?
• Positive Sentiment: Some analysts see potential for an upside earnings surprise, citing valuation compression, raised guidance and continued momentum in Intuit’s key growth engines. Bank of America maintained a Buy rating and a $400 price target, supporting investor confidence before the report. Intuit: Resilient Growth Drivers and Attractive Valuation Support Buy Rating
• Neutral Sentiment: Options-oriented coverage highlights the possibility of generating income by selling calls against existing INTU shares. The strategy may provide an attractive yield but limits upside if the stock rises above the option’s strike price. Get Paid 16% A Year To Hold INTU Stock You Already Own
• Neutral Sentiment: Wall Street’s outlook is mixed ahead of earnings. Piper Sandler reaffirmed an Underweight rating, while another valuation update reduced its fair-value estimate from $488.17 to $449.20, reflecting concerns about growth expectations, valuation and potential artificial-intelligence risks. Piper Sandler Reaffirms Underweight Rating for Intuit
• Negative Sentiment: Several law firms are publicizing a securities-fraud class action against Intuit and certain officers. The lawsuit alleges that the company made material misstatements or omissions about the strength of its tax-related business and TurboTax growth disclosures. Investors face a September 8 deadline to seek lead-plaintiff status. The legal claims are allegations and could create reputational, financial and investor-confidence risks. Intuit Securities Fraud Class Action Deadline Alert

Insider Buying and Selling at Intuit

In other Intuit news, Director Vasant M. Prabhu acquired 500 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $309.71 per share, with a total value of $154,855.00. Following the completion of the acquisition, the director directly owned 1,750 shares in the company, valued at $541,992.50. This trade represents a 40.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard L. Dalzell sold 338 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $279.86, for a total transaction of $94,592.68. Following the sale, the director directly owned 12,326 shares in the company, valued at approximately $3,449,554.36. This trade represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,239 shares of company stock valued at $348,354 in the last quarter. 2.49% of the stock is owned by corporate insiders.

Intuit Company Profile

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.