World Equity Group Inc. Invests $250,000 in Intuit Inc. (NASDAQ:INTU)

World Equity Group Inc. bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 398 shares of the software maker’s stock, valued at approximately $250,000.

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

Insider Transactions at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s 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 completion of the transaction, the chief accounting officer now 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is owned by company insiders.

Intuit Stock Up 0.3 %

INTU stock opened at $567.24 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $158.78 billion, a price-to-earnings ratio of 55.07, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock has a fifty day moving average of $610.15 and a 200-day moving average of $628.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Finally, JPMorgan Chase & Co. raised their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $726.71.

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.