Los Angeles Capital Management LLC Has $8.82 Million Position in Intuit Inc. (NASDAQ:INTU)

Los Angeles Capital Management LLC lessened its stake in Intuit Inc. (NASDAQ:INTU) by 52.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,033 shares of the software maker’s stock after selling 15,607 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Intuit were worth $8,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Holocene Advisors LP increased its stake in shares of Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after acquiring an additional 312,212 shares during the last quarter. Nordea Investment Management AB grew its stake in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. State Street Corp increased its position in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Intuit during the 4th quarter worth about $104,278,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Intuit by 85.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 358,834 shares of the software maker’s stock worth $222,836,000 after purchasing an additional 165,805 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $12,286.92. This represents a 99.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,014 shares of company stock worth $140,855,687 in the last ninety days. Insiders own 2.68% of the company’s stock.

Intuit Trading Up 12.6 %

Shares of Intuit stock opened at $625.51 on Thursday. The company has a market cap of $175.09 billion, a price-to-earnings ratio of 60.73, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The company’s fifty day simple moving average is $607.22 and its 200-day simple moving average is $627.53. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Analyst Upgrades and Downgrades

A number of research firms recently commented on INTU. Scotiabank initiated coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research note on Wednesday. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $723.76.

Intuit Company 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.