Wealthspire Advisors LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Wealthspire Advisors LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,277 shares of the software maker’s stock after acquiring an additional 102 shares during the period. Wealthspire Advisors LLC’s holdings in Intuit were worth $1,431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Allworth Financial LP raised its stake in shares of Intuit by 2.9% during the 3rd quarter. Allworth Financial LP now owns 2,877 shares of the software maker’s stock worth $1,787,000 after buying an additional 82 shares during the period. Arkadios Wealth Advisors increased its stake in Intuit by 33.4% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,943 shares of the software maker’s stock worth $1,207,000 after buying an additional 486 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Intuit by 6.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 29,307 shares of the software maker’s stock valued at $18,200,000 after acquiring an additional 1,779 shares during the last quarter. Modera Wealth Management LLC lifted its position in shares of Intuit by 1.0% in the third quarter. Modera Wealth Management LLC now owns 2,694 shares of the software maker’s stock valued at $1,673,000 after acquiring an additional 26 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Intuit by 73.3% in the third quarter. J.W. Cole Advisors Inc. now owns 3,231 shares of the software maker’s stock worth $2,006,000 after acquiring an additional 1,367 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on INTU shares. Jefferies Financial Group increased 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. JPMorgan Chase & Co. increased their target price 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. Stifel Nicolaus decreased their price target on shares of 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 price objective on shares of Intuit in a research note on Friday, January 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $726.71.

Insider Transactions at Intuit

In other news, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is currently owned by insiders.

Intuit Trading Up 0.3 %

NASDAQ INTU opened at $567.24 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $158.78 billion, a P/E ratio of 55.07, a PEG ratio of 2.85 and a beta of 1.24. The firm’s 50-day moving average is $610.15 and its two-hundred day moving average is $628.07. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

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.