Los Angeles Capital Management LLC Has $8.82 Million Stake in Intuit Inc. (NASDAQ:INTU)

Los Angeles Capital Management LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 52.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,033 shares of the software maker’s stock after selling 15,607 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Intuit were worth $8,820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Integrated Advisors Network LLC boosted its position in Intuit by 9.6% in the third quarter. Integrated Advisors Network LLC now owns 1,416 shares of the software maker’s stock valued at $879,000 after buying an additional 124 shares in the last quarter. Strategic Blueprint LLC raised its stake in shares of Intuit by 1.9% in the third quarter. Strategic Blueprint LLC now owns 1,167 shares of the software maker’s stock valued at $725,000 after acquiring an additional 22 shares during the last quarter. Fidelis Capital Partners LLC boosted its holdings in shares of Intuit by 9.2% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,494 shares of the software maker’s stock worth $899,000 after acquiring an additional 126 shares in the last quarter. Childress Capital Advisors LLC grew its position in Intuit by 3.2% during the 3rd quarter. Childress Capital Advisors LLC now owns 1,137 shares of the software maker’s stock worth $706,000 after acquiring an additional 35 shares during the last quarter. Finally, Mutual Advisors LLC grew its position in Intuit by 21.5% during the 3rd quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock worth $1,625,000 after acquiring an additional 476 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the sale, the executive vice president now owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,014 shares of company stock worth $140,855,687. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on INTU shares. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research report on Wednesday. Stifel Nicolaus lowered their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. BMO Capital Markets dropped their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group increased their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $723.76.

Intuit Stock Up 12.6 %

Shares of Intuit stock opened at $625.51 on Thursday. The business has a fifty day simple moving average of $607.22 and a 200 day simple moving average of $627.53. The stock has a market cap of $175.09 billion, a PE ratio of 60.73, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $553.24 and a 12 month 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.