Y Intercept Hong Kong Ltd Sells 2,923 Shares of Intuit Inc. (NASDAQ:INTU)

Y Intercept Hong Kong Ltd lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 40.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,290 shares of the software maker’s stock after selling 2,923 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Intuit were worth $2,696,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Holocene Advisors LP increased its stake in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares during the period. Nordea Investment Management AB boosted its holdings in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. State Street Corp grew its stake in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Intuit in the 4th quarter worth approximately $104,278,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Intuit by 85.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 358,834 shares of the software maker’s stock worth $222,836,000 after buying an additional 165,805 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INTU. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Redburn Atlantic began coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $726.71.

Intuit Price Performance

Shares of INTU stock opened at $567.24 on Tuesday. The firm has a market cap of $158.78 billion, a price-to-earnings ratio of 55.07, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $610.15 and a 200 day moving average price of $628.07.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,014 shares of company stock valued at $140,855,687. 2.68% of the stock is currently 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.