Lake Street Advisors Group LLC Has $3.16 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Lake Street Advisors Group LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 4.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,033 shares of the software maker’s stock after acquiring an additional 216 shares during the period. Lake Street Advisors Group LLC’s holdings in Intuit were worth $3,163,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new stake in Intuit in the 4th quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Sugar Maple Asset Management LLC acquired a new stake in Intuit during the fourth quarter worth approximately $29,000. Finally, Denver PWM LLC acquired a new position in Intuit in the 3rd quarter valued at $32,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $555.63 on Wednesday. The firm has a market capitalization of $155.53 billion, a price-to-earnings ratio of 53.94, a PEG ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $607.70 and its 200-day moving average price is $627.55. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on INTU shares. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group increased their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $726.71.

Insider Activity at Intuit

In related news, 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 value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 1,300 shares of Intuit stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total value of $814,346.00. Following the transaction, the chief financial officer now directly owns 644 shares in the company, valued at $403,414.48. The trade was a 66.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock worth $140,855,687 in the last quarter. 2.68% of the stock is owned by insiders.

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.