Principal Financial Group Inc. Sells 79,163 Shares of Intuit Inc. (NASDAQ:INTU)

Principal Financial Group Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,324,953 shares of the software maker's stock after selling 79,163 shares during the period. Principal Financial Group Inc. owned about 0.47% of Intuit worth $832,734,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Creative Planning raised its stake in Intuit by 5.6% during the 3rd quarter. Creative Planning now owns 53,552 shares of the software maker's stock valued at $33,256,000 after purchasing an additional 2,836 shares during the period. Good Life Advisors LLC acquired a new stake in Intuit during the 3rd quarter valued at $367,000. Global Retirement Partners LLC raised its stake in Intuit by 3.3% during the 3rd quarter. Global Retirement Partners LLC now owns 1,800 shares of the software maker's stock valued at $1,118,000 after purchasing an additional 57 shares during the period. Stratos Wealth Partners LTD. raised its stake in Intuit by 3.5% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 8,977 shares of the software maker's stock valued at $5,575,000 after purchasing an additional 305 shares during the period. Finally, Stratos Investment Management LLC raised its stake in Intuit by 8.8% during the 3rd quarter. Stratos Investment Management LLC now owns 371 shares of the software maker's stock valued at $231,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,078 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company's stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company's stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 over the last quarter. Corporate insiders own 2.68% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on INTU shares. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday. They set a "neutral" rating on the stock. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. Piper Sandler reaffirmed an "overweight" rating and issued a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Finally, Morgan Stanley upped their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an "equal weight" rating in a research note on Friday, November 22nd. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $726.53.

Intuit Stock Performance

Shares of NASDAQ INTU traded down $3.11 during mid-day trading on Thursday, hitting $579.08. The company had a trading volume of 2,703,284 shares, compared to its average volume of 1,760,584. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business's 50-day simple moving average is $615.92 and its 200-day simple moving average is $628.85. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The firm has a market cap of $162.10 billion, a P/E ratio of 56.22, a PEG ratio of 2.86 and a beta of 1.24.

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

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.