Outfitter Financial LLC Cuts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Outfitter Financial LLC lowered its stake in Intuit Inc. (NASDAQ:INTU) by 1.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,559 shares of the software maker’s stock after selling 50 shares during the period. Intuit makes up approximately 1.8% of Outfitter Financial LLC’s portfolio, making the stock its 20th biggest holding. Outfitter Financial LLC’s holdings in Intuit were worth $2,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of INTU. R Squared Ltd purchased a new stake in Intuit during the 4th quarter valued at $25,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the fourth quarter worth about $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the fourth quarter worth about $29,000. Finally, Denver PWM LLC purchased a new position in Intuit during the 3rd quarter valued at about $32,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. 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 report on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.5 %

NASDAQ INTU opened at $579.08 on Friday. The stock’s fifty day moving average price is $614.05 and its 200-day moving average price is $628.50. 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 stock has a market cap of $162.10 billion, a P/E ratio of 56.22, a P/E/G ratio of 2.87 and a beta of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data 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. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. As a group, equities analysts forecast that Intuit Inc. will post 14.09 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.