Prospera Private Wealth LLC Grows Position in Intuit Inc. (NASDAQ:INTU)

Prospera Private Wealth LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 1,748.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,579 shares of the software maker's stock after purchasing an additional 6,223 shares during the quarter. Prospera Private Wealth LLC's holdings in Intuit were worth $4,086,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Bessemer Group Inc. increased its position in Intuit by 14.2% in the 1st quarter. Bessemer Group Inc. now owns 19,676 shares of the software maker's stock valued at $12,790,000 after buying an additional 2,450 shares in the last quarter. MQS Management LLC acquired a new position in shares of Intuit during the first quarter worth approximately $294,000. EntryPoint Capital LLC bought a new position in shares of Intuit in the 1st quarter worth $60,000. Delap Wealth Advisory LLC acquired a new stake in Intuit in the 1st quarter valued at $252,000. Finally, Freestone Capital Holdings LLC increased its stake in Intuit by 220.5% during the 1st quarter. Freestone Capital Holdings LLC now owns 3,510 shares of the software maker's stock valued at $2,282,000 after purchasing an additional 2,415 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

INTU stock traded down $0.01 during midday trading on Wednesday, reaching $644.16. 784,948 shares of the company's stock traded hands, compared to its average volume of 1,339,708. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a 50-day moving average price of $634.32 and a two-hundred day moving average price of $630.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $180.55 billion, a PE ratio of 61.64, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the company earned $0.40 EPS. The firm's revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts anticipate that Intuit Inc. will post 14.05 EPS for the current year.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company's stock, valued at $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a "buy" rating in a report on Friday, August 23rd. BMO Capital Markets raised their target price on Intuit from $700.00 to $760.00 and gave the company an "outperform" rating in a report on Friday, August 23rd. Barclays increased their price target on Intuit from $740.00 to $800.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Bank of America upped their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Finally, Piper Sandler restated an "overweight" rating and set a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $737.06.

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.