Prentice Wealth Management LLC Purchases 64 Shares of Intuit Inc. (NASDAQ:INTU)

Prentice Wealth Management LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 9.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 772 shares of the software maker’s stock after buying an additional 64 shares during the quarter. Prentice Wealth Management LLC’s holdings in Intuit were worth $485,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Intuit during the fourth quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the 4th quarter worth $28,000. Sugar Maple Asset Management LLC bought a new stake in Intuit in the fourth quarter worth $29,000. Finally, Denver PWM LLC purchased a new stake in Intuit during the third quarter valued at about $32,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

Intuit stock opened at $565.47 on Friday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock has a market cap of $158.29 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 2.87 and a beta of 1.24. The stock’s 50 day simple moving average is $612.23 and its two-hundred day simple moving average is $628.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. As a group, analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Redburn Atlantic initiated coverage on Intuit in a research note on Wednesday. They set a “neutral” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $765.00 price target on shares of Intuit in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

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.