EVP and CFO Clatterbuck Michelle M sold 6,768 shares of Intuit Inc. [INTU]

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Intuit Inc. shares valued at $3,045,600 were sold by Clatterbuck Michelle M on Sep 09. At $450.00 per share, Clatterbuck Michelle M sold 6,768 shares. The insider’s holdings dropped to 1,350 shares worth approximately $0.54 million following the completion of this transaction.

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Also, Krishna Varun sold 7,438 shares, netting a total of over 3,353,026 in proceeds. Following the sale of shares at $450.80 each, the insider now holds 0 shares.

Before that, Chriss James Alexander had sold 8,702 shares from its account. In a trade valued at $3,726,916, the EVP, SBSEG traded Intuit Inc. shares for $428.28 each. Upon closing the transaction, the insider’s holdings decreased to 8,702 shares, worth approximately $0.4 million.

As published in their initiating research note from MoffettNathanson on September 22, 2022, Intuit Inc. [INTU] has been an Outperform and the price target has been revised to $500. This represents a 20.66% premium over Thursday’s closing price. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in early September. As of March 11, 2022, Edward Jones has increased its “Hold” rating to a “Buy” for INTU. Earlier on February 25, 2022, Wolfe Research resumed its rating. Their recommendation was “an Outperform” for INTU stock.

Analyzing INTU’s Price Performance

On Thursday, Intuit Inc. [NASDAQ: INTU] plunged -2.93% to $396.71. The stock’s lowest price that day was $395.45, but it reached a high of $406.65 in the same session. During the last five days, there has been a drop of approximately -6.02%. Over the course of the year, Intuit Inc. shares have dropped approximately -38.32%. 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 $441.58, while a 200-day SMA reached $471.56. Nevertheless, trading volume fell to 2.25 million shares from 1.49 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 392.56, which, if violated, would cause prices to drop to 388.40. In the upper region, resistance lies at 403.76. The next price resistance is at 410.80. RSI (Relative Strength Index) is 33.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -19.17, which suggests the price will decrease in the coming days. Percent R is at 98.05%, indicating bearish price movement. Stochastics %K at buying 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 23,203,823 shares, which is about 8.21% of the total INTU shares outstanding. The investor’s shares have appreciated by 252,795 from its previous 13-F filing of 22951028.0 shares. With the completion of the buy transaction, T. Rowe Price Associates, Inc.’s stake is now worth $7,663,907,176. BlackRock Fund Advisors reduced a -6.82% interest valued at $5.9 billion while SSgA Funds Management, Inc. sold a -381,734 stake. A total of -970,340 shares of Intuit Inc. were sold by Fidelity Management & Research Co during the quarter, and 49,335 were bought by Geode Capital Management LLC. In its current portfolio, Edgewood Management LLC holds 4,476,762 shares valued at $1.93 billion.

In terms of Intuit Inc. share price expectations, FactSet research, analysts set an average price target of $540.81 in the next 12 months, up nearly 34.58% from the previous closing price of $408.68. Analysts anticipate Intuit Inc. stock to reach $650.00 by 2022, with the lowest price target being $410.00. In spite of this, 26 analysts ranked Intuit Inc. stock as an Overweight at the end of 2022. On February 25, 2022, Stifel assigned a price target of “a Buy” to the stock and reiterated coverage with a $600.


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