Denali Advisors LLC Decreases Stake in Intuit Inc. (NASDAQ:INTU)

Denali Advisors LLC reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,473 shares of the software maker’s stock after selling 19 shares during the quarter. Denali Advisors LLC’s holdings in Intuit were worth $5,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of INTU. Brown Financial Advisors boosted its stake in shares of Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after purchasing an additional 15 shares during the period. Truvestments Capital LLC lifted its holdings in 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. True North Advisors LLC boosted its position in Intuit by 4.3% in 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 during the period. Great Diamond Partners LLC grew its stake in Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after acquiring an additional 17 shares in the last quarter. Finally, Cornerstone Wealth Group LLC increased its position in shares of Intuit by 2.7% during the third quarter. Cornerstone Wealth Group LLC now owns 686 shares of the software maker’s stock worth $426,000 after acquiring an additional 18 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $555.63 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $155.53 billion, a PE ratio of 53.94, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The business’s fifty day simple moving average is $607.70 and its 200-day simple moving average is $627.55.

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 3,649 shares of the firm’s 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 transaction, the executive vice president now owns 19 shares in the company, valued at $12,286.92. This trade represents a 99.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,014 shares of company stock valued at $140,855,687 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock 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.