Bryn Mawr Capital Management LLC Sells 308 Shares of Intuit Inc. (NASDAQ:INTU)

Bryn Mawr Capital Management LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 18.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,329 shares of the software maker’s stock after selling 308 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Intuit were worth $835,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Intuit during the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the 4th quarter worth approximately $29,000. Finally, Denver PWM LLC purchased a new position in shares of Intuit in the 3rd quarter worth approximately $32,000. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on INTU shares. Piper Sandler restated an “overweight” rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday. Redburn Atlantic started coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Finally, Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $723.76.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock worth $140,855,687 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Up 12.6 %

NASDAQ:INTU opened at $625.51 on Thursday. The company has a market cap of $175.09 billion, a P/E ratio of 60.73, a P/E/G ratio of 2.85 and a beta of 1.24. The stock’s fifty day moving average price is $607.22 and its two-hundred day moving average price is $627.53. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit 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.