Flossbach Von Storch SE Has $23.63 Million Stake in Intuit Inc. (NASDAQ:INTU)

Flossbach Von Storch SE cut its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,600 shares of the software maker's stock after selling 5,212 shares during the period. Flossbach Von Storch SE's holdings in Intuit were worth $23,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of INTU. Northwest Investment Counselors LLC bought a new position in Intuit in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. lifted its stake in shares of Intuit by 7.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 365 shares of the software maker's stock valued at $227,000 after purchasing an additional 26 shares during the period. Ledyard National Bank boosted its position in shares of Intuit by 12.5% in the 3rd quarter. Ledyard National Bank now owns 569 shares of the software maker's stock worth $353,000 after purchasing an additional 63 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Intuit by 8.1% during the third quarter. Foundations Investment Advisors LLC now owns 402 shares of the software maker's stock worth $250,000 after purchasing an additional 30 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in Intuit by 9.0% in the third quarter. Sequoia Financial Advisors LLC now owns 13,529 shares of the software maker's stock valued at $8,402,000 after purchasing an additional 1,121 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares of the company's stock, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 in the last three months. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INTU. Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating on the stock in a research report on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They set a "sector perform" rating and a $700.00 price objective for the company. Piper Sandler reaffirmed an "overweight" rating and issued a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Finally, Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $726.53.

Intuit Stock Down 2.4 %

NASDAQ INTU traded down $13.61 during trading on Friday, hitting $565.47. The stock had a trading volume of 2,006,382 shares, compared to its average volume of 1,767,831. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. 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's 50-day moving average price is $614.05 and its two-hundred day moving average price is $628.50. The company has a market capitalization of $158.29 billion, a PE ratio of 54.90, a P/E/G ratio of 2.87 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

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.