Mirabella Financial Services LLP Purchases New Shares in Intuit Inc. (NASDAQ:INTU)

Mirabella Financial Services LLP acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,934 shares of the software maker’s stock, valued at approximately $2,385,000.

A number of other large investors also recently bought and sold shares of INTU. Hancock Whitney Corp lifted its position in shares of Intuit by 326.9% during the 3rd quarter. Hancock Whitney Corp now owns 18,767 shares of the software maker’s stock valued at $11,654,000 after acquiring an additional 14,371 shares during the period. Truvestments Capital LLC raised its holdings in shares of Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the period. Brown Brothers Harriman & Co. lifted its position in Intuit by 5.8% during the third quarter. Brown Brothers Harriman & Co. now owns 4,999 shares of the software maker’s stock valued at $3,104,000 after buying an additional 276 shares in the last quarter. Independent Advisor Alliance boosted its position in shares of Intuit by 1.4% in the third quarter. Independent Advisor Alliance now owns 8,531 shares of the software maker’s stock worth $5,298,000 after buying an additional 117 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Intuit by 33.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 12,877 shares of the software maker’s stock worth $7,995,000 after acquiring an additional 3,198 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,265 shares of company stock valued at $35,200,125. Company insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $644.50 on Monday. 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 firm has a market cap of $180.49 billion, a PE ratio of 62.15, a PEG ratio of 3.13 and a beta of 1.25. The firm’s 50 day moving average price is $634.81 and its 200 day moving average price is $631.19. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. As a group, research analysts expect that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INTU. Piper Sandler lowered their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday. BMO Capital Markets lifted their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Susquehanna reiterated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday. Finally, Bank of America raised their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

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.