Lansing Street Advisors Purchases New Shares in Intuit Inc. (NASDAQ:INTU)

Lansing Street Advisors purchased a new stake in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 724 shares of the software maker’s stock, valued at approximately $455,000.

Other large investors have also added to or reduced their stakes in the company. Brown Financial Advisors boosted its holdings in shares of Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares in the last quarter. Truvestments Capital LLC boosted its holdings in shares of Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares in the last quarter. Covenant Partners LLC boosted its holdings in shares of Intuit by 3.4% during the 3rd quarter. Covenant Partners LLC now owns 521 shares of the software maker’s stock valued at $324,000 after buying an additional 17 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in shares of Intuit by 1.8% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 973 shares of the software maker’s stock valued at $604,000 after buying an additional 17 shares in the last quarter. Finally, True North Advisors LLC boosted its holdings in shares of Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after buying an additional 17 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by company insiders.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $565.47 on Friday. The business has a 50-day simple moving average of $612.23 and a two-hundred day simple moving average of $628.35. The firm has a market cap of $158.28 billion, a price-to-earnings ratio of 54.90, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. 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 Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate 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 EPS. On average, analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Analyst Ratings Changes

INTU has been the topic of a number of research reports. Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Scotiabank assumed 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. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Finally, Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Company 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.