Argonautica Private Wealth Management Inc. Has $2.68 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Argonautica Private Wealth Management Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 2.2% in the fourth quarter, HoldingsChannel reports. The fund owned 4,269 shares of the software maker’s stock after selling 94 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in Intuit were worth $2,683,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. 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 last quarter. Nordea Investment Management AB lifted its position in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the period. State Street Corp grew its holdings in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Intuit in the fourth 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 valued at $222,836,000 after acquiring an additional 165,805 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Barclays lowered their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.71.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the transaction, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,014 shares of company stock valued at $140,855,687 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Down 2.0 %

Shares of NASDAQ:INTU opened at $555.63 on Wednesday. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The stock’s 50-day moving average price is $607.70 and its two-hundred day moving average price is $627.55. The firm has a market cap 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.

About Intuit

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.