Prospera Private Wealth LLC Has $4.09 Million Stake in Intuit Inc. (NASDAQ:INTU)

Prospera Private Wealth LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 1,748.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,579 shares of the software maker’s stock after purchasing an additional 6,223 shares during the period. Prospera Private Wealth LLC’s holdings in Intuit were worth $4,086,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of INTU. Legal & General Group Plc lifted its holdings in shares of Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after purchasing an additional 23,995 shares during the period. Ameriprise Financial Inc. grew its position in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Intuit by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after buying an additional 56,370 shares during the last quarter. Capital World Investors increased its stake in shares of Intuit by 1.0% in the first quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock valued at $772,706,000 after buying an additional 12,068 shares during the period. Finally, Unisphere Establishment raised its position in shares of Intuit by 4.2% during the second quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker’s stock worth $657,210,000 after acquiring an additional 40,000 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stifel Nicolaus upped their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Bank of America upped their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price target on shares of Intuit in a research report on Friday, September 27th. Finally, Barclays lifted their price objective on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $737.06.

Intuit Trading Down 5.1 %

Shares of Intuit stock opened at $644.17 on Wednesday. The company has a market capitalization of $180.55 billion, a P/E ratio of 61.64, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. The stock has a fifty day simple moving average of $634.32 and a 200 day simple moving average of $630.75. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 EPS. On average, sell-side analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 in the last three months. Company insiders own 2.90% of the company’s stock.

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.