Intuit Inc. (NASDAQ:INTU) Shares Purchased by Stonebrook Private Inc.

Stonebrook Private Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 12.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 384 shares of the software maker’s stock after acquiring an additional 43 shares during the quarter. Stonebrook Private Inc.’s holdings in Intuit were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC acquired a new position in shares of Intuit in the 3rd quarter valued at $722,000. Covenant Asset Management LLC grew its position in Intuit by 0.9% during the 3rd quarter. Covenant Asset Management LLC now owns 4,249 shares of the software maker’s stock worth $2,639,000 after purchasing an additional 36 shares during the last quarter. Biltmore Family Office LLC grew its position in Intuit by 0.7% during the 3rd quarter. Biltmore Family Office LLC now owns 4,609 shares of the software maker’s stock worth $2,862,000 after purchasing an additional 32 shares during the last quarter. AlphaCore Capital LLC raised its holdings in shares of Intuit by 5.3% in the third quarter. AlphaCore Capital LLC now owns 1,599 shares of the software maker’s stock valued at $993,000 after buying an additional 80 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of Intuit by 20.8% in the third quarter. Eagle Asset Management Inc. now owns 4,649 shares of the software maker’s stock valued at $3,181,000 after buying an additional 799 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. This trade represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,297 shares of company stock worth $35,220,046. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of several recent research reports. Barclays dropped their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday. BMO Capital Markets boosted their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday. Morgan Stanley boosted their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Performance

NASDAQ INTU opened at $640.12 on Friday. The business has a 50 day moving average price of $634.81 and a 200 day moving average price of $631.20. The company has a market capitalization of $179.31 billion, a P/E ratio of 62.15, a PEG ratio of 3.32 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 company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business posted $1.14 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts expect that Intuit Inc. will post 14.05 EPS for the current fiscal year.

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.