Lake Street Advisors Group LLC Grows Position in Intuit Inc. (NASDAQ:INTU)

Lake Street Advisors Group LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,033 shares of the software maker’s stock after acquiring an additional 216 shares during the period. Lake Street Advisors Group LLC’s holdings in Intuit were worth $3,163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Holocene Advisors LP lifted its holdings in shares of Intuit by 99.6% during the 3rd 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 increased its holdings in Intuit by 83.2% during the 4th 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 during the period. State Street Corp lifted its stake in Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Intuit in the fourth quarter worth $104,278,000. Finally, Jacobs Levy Equity Management Inc. boosted 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 valued at $222,836,000 after purchasing an additional 165,805 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $12,286.92. This trade represents a 99.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the sale, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at $22,304,518.24. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 218,014 shares of company stock worth $140,855,687. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Down 2.0 %

Shares of INTU stock opened at $555.63 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $155.53 billion, a P/E ratio of 53.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The business’s 50 day moving average is $607.70 and its two-hundred day moving average is $627.55. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Finally, Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $726.71.

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.