Wealthfront Advisers LLC Makes New $8.61 Million Investment in Intuit Inc. $INTU

Wealthfront Advisers LLC acquired a new stake in shares of Intuit Inc. (NASDAQ:INTUFree Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 32,980 shares of the software maker’s stock, valued at approximately $8,608,000.

Several other institutional investors and hedge funds also recently made changes to their positions in INTU. Joseph Group Capital Management acquired a new stake in shares of Intuit during the 4th quarter worth about $25,000. Intesa Sanpaolo Wealth Management acquired a new position in Intuit in the fourth quarter valued at about $25,000. MidFirst Bank bought a new stake in Intuit during the second quarter worth about $28,000. HHM Wealth Advisors LLC grew its stake in Intuit by 75.0% during the first quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock worth $30,000 after buying an additional 30 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Intuit during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, Director Richard L. Dalzell sold 284 shares of Intuit stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total value of $74,498.88. Following the completion of the sale, the director directly owned 11,758 shares of the company’s stock, valued at approximately $3,084,358.56. This trade represents a 2.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 500 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $309.71 per share, with a total value of $154,855.00. Following the transaction, the director owned 1,750 shares of the company’s stock, valued at $541,992.50. The trade was a 40.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 1,239 shares of company stock valued at $348,354 over the last three months. Insiders own 2.49% of the company’s stock.

Key Stories Impacting Intuit

Here are the key news stories impacting Intuit this week:

  • Positive Sentiment: Intuit benefited from a broader rotation into enterprise software after weakness in AI hardware stocks. The move suggests traders are reassessing the durability and valuation of software businesses, although it may be a short-term sector trade. Software Stocks Soar in Rotational Trade
  • Positive Sentiment: Investor commentary highlighted Intuit’s potential to use AI through its AI-native enterprise resource planning products and Intuit Intelligence chat. A separate investment analysis argued that tax preparation and AI could complement one another, supporting the long-term growth narrative. Intuit Expanding AI-Native ERP
  • Positive Sentiment: A GuruFocus analysis cited a GF Score of 78, reflecting relatively favorable quality, growth, profitability, and valuation characteristics. Intuit’s latest reported quarter also showed year-over-year revenue growth and an earnings-per-share beat, providing fundamental support for the rebound. Intuit GF Score Analysis

Intuit Stock Performance

Shares of Intuit stock opened at $362.47 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $99.15 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.11 and a beta of 0.97. The firm has a 50 day simple moving average of $295.58 and a 200 day simple moving average of $360.88. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $705.10.

Intuit (NASDAQ:INTUGet Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, topping the consensus estimate of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $8.54 billion. During the same quarter in the previous year, the company posted $11.65 EPS. Intuit’s revenue was up 10.4% on a year-over-year basis. Sell-side analysts predict that Intuit Inc. will post 18.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group cut shares of Intuit from a “neutral” rating to a “sell” rating and cut their target price for the company from $519.00 to $276.00 in a research note on Tuesday, June 2nd. Susquehanna dropped their price target on Intuit from $550.00 to $427.00 and set a “positive” rating for the company in a report on Monday, July 20th. Citigroup cut their price objective on Intuit from $591.00 to $457.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Mizuho reduced their price objective on Intuit from $500.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Northcoast Research decreased their target price on Intuit from $575.00 to $465.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Twenty investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $451.26.

Read Our Latest Research Report on INTU

Intuit Profile

(Free Report)

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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