Proficio Capital Partners LLC Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Proficio Capital Partners LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 112,233.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,063,794 shares of the software maker’s stock after purchasing an additional 1,062,847 shares during the quarter. Proficio Capital Partners LLC owned 0.38% of Intuit worth $668,595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its stake in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC grew its stake in Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after purchasing an additional 80,463 shares in the last quarter. Fisher Asset Management LLC grew its stake in Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after purchasing an additional 107,482 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Intuit by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock worth $1,499,744,000 after acquiring an additional 88,487 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intuit by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after acquiring an additional 87,517 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTU has been the subject of several analyst reports. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research report on Wednesday. Citigroup lowered their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $723.76.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock valued at $140,855,687 in the last ninety days. Insiders own 2.68% of the company’s stock.

Intuit Stock Up 12.6 %

INTU opened at $625.51 on Thursday. The business has a 50 day moving average price of $607.22 and a two-hundred day moving average price of $627.53. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $175.09 billion, a PE ratio of 60.73, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 52 week low of $553.24 and a 52 week 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.