A company insider recently sold 1,790 shares of Intuit Inc. [INTU]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Intuit Inc. shares valued at $698,753 were sold by Vazquez Raul on Jun 23. At $390.37 per share, Vazquez Raul sold 1,790 shares. The insider’s holdings dropped to 2,019 shares worth approximately $0.94 million following the completion of this transaction.

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Also, FENNELL LAURA A sold 10,000 shares, netting a total of over 3,923,883 in proceeds. Following the sale of shares at $392.39 each, the insider now holds 28,717 shares.

Before that, Chriss James Alexander had sold 984 shares from its account. In a trade valued at $380,109, the EVP, SBSEG traded Intuit Inc. shares for $386.29 each. Upon closing the transaction, the insider’s holdings decreased to 984 shares, worth approximately $0.16 million.

As published in a research note from Edward Jones on March 11, 2022, Intuit Inc. [INTU] has been rated up from a Hold to a Buy. Analysts at Wolfe Research resumed the stock at ‘”an Outperform”‘ outlook in a report released in late February. As of February 25, 2022, Stifel has reiterated its “Buy” rating for INTU. Earlier on February 25, 2022, JP Morgan resumed its rating. Their recommendation was “an Overweight” for INTU stock.

Analyzing INTU’s Price Performance

On Thursday, Intuit Inc. [NASDAQ: INTU] rose 0.12% to $466.30. The stock’s lowest price that day was $458.20, but it reached a high of $467.86 in the same session. During the last five days, there has been a surge of approximately 3.95%. Over the course of the year, Intuit Inc. shares have dropped approximately -27.51%. Shares of the company reached a 52-week high of $645.61 on 01/03/22 and a 52-week low of $339.36 on 05/12/22. A 50-day SMA is recorded $405.59, while a 200-day SMA reached $502.58. Nevertheless, trading volume fell to 1.42 million shares from 1.57 million shares the previous day.

Support And Resistance Levels for Intuit Inc. (INTU)

According to the 24-hour chart, there is a support level at 460.38, which, if violated, would cause prices to drop to 454.46. In the upper region, resistance lies at 470.04. The next price resistance is at 473.78. RSI (Relative Strength Index) is 67.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 24.83, which suggests the price will increase in the coming days. Percent R is at 1.92%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Intuit Inc. subject to short interest?

Stocks of Intuit Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 50000.0 shares to 2.56 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.51 million shares. A jump of 1.95% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.54 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.54.

Which companies own the most shares of Intuit Inc. (INTU)?

According to The Vanguard Group, Inc. filings, the company currently owns 22,951,028 shares, which is about 8.12% of the total INTU shares outstanding. The investor’s shares have appreciated by 1,479,152 from its previous 13-F filing of 21471876.0 shares. With the completion of the sale transaction, T. Rowe Price Associates, Inc.’s stake is now worth $6,619,697,267. BlackRock Fund Advisors acquire a 0.11% interest valued at $5.65 billion while SSgA Funds Management, Inc. purchased a 210,562 stake. A total of -654,433 shares of Intuit Inc. were bought by Fidelity Management & Research Co during the quarter, and -23,662 were sold by Edgewood Management LLC. In its current portfolio, Geode Capital Management LLC holds 4,909,154 shares valued at $1.89 billion.

In terms of Intuit Inc. share price expectations, FactSet research, analysts set an average price target of $510.29 in the next 12 months, up nearly 4.99% from the previous closing price of $465.75. Analysts anticipate Intuit Inc. stock to reach $650.00 by 2022, with the lowest price target being $450.00. In spite of this, 22 analysts ranked Intuit Inc. stock as a Buy at the end of 2022. On February 25, 2022, Jefferies assigned a price target of “a Buy” to the stock and reiterated coverage with a $700.


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