Intuit Inc. [INTU] Insider Activity: An Update for Investors


Intuit Inc.’s recent filing unveils that its EVP, People and Places FENNELL LAURA A unloaded Company’s shares for reported $24.24 million on Jul 03. In the deal valued at $450.96 per share,53,741 shares were sold. As a result of this transaction, FENNELL LAURA A now holds 39,896 shares worth roughly $ 20.7 million.

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Then, Clatterbuck Michelle M sold 1,412 shares, generating $639,269 in total proceeds. Upon selling the shares at $452.74, the EVP and CFO now owns 1,350 shares.

Before that, Chriss James Alexander sold 1,394 shares. Intuit Inc. shares valued at $631,120 were divested by the EVP, SBSEG at a price of $452.74 per share. As a result of the transaction, Chriss James Alexander now holds 409 shares, worth roughly $0.21 million.

Exane BNP Paribas upgraded its Intuit Inc. [INTU] rating to a Neutral from a an Underperform in a research note published on Monday. PT values the company’s stock at a premium of 2.47 to its Monday closing price.

Price Performance Review of INTU

On Monday, Intuit Inc. [NASDAQ:INTU] saw its stock fall -0.03% to $518.87. On the same session, the stock had its day’s lowest price of $513.83, but rose to a high of $522.675. Over the last five days, the stock has gained 6.27%. Intuit Inc. shares have risen nearly 33.31% since the year began. Nevertheless, the stocks have risen 11.38% over the past one year. While a 52-week high of $521.82 was reached on 08/28/23, a 52-week low of $352.63 was recorded on 01/06/23. SMA at 50 days reached $483.79, while 200 days put it at $432.13. A total of 1.31 million shares were traded, compared to the trading of 2.46 million shares in the previous session.

Levels Of Support And Resistance For INTU Stock

The 24-hour chart illustrates a support level at 514.24, which if violated will result in even more drops to 509.61. On the upside, there is a resistance level at 523.09. A further resistance level may holdings at 527.30. The Relative Strength Index (RSI) on the 14-day chart is 66.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 13.54, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.47%. Stochastics %K at 82.70% indicates the stock is a selling.

How much short interest is there in Intuit Inc.?

A steep rise in short interest was recorded in Intuit Inc. stocks on Aug 14, 2023, dropping by -0.63 million shares to a total of 3.42 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 4.05 million shares. There was a decline of -18.42%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.26% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.37.

Intuit Inc. [INTU] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 24,056,292 shares, or roughly 8.59% of the outstanding INTU shares. In other words, the investor’s shares have risen by 328,462 from its previous 13-F filing of 23727830.0. Additionally, BlackRock Fund Advisors increased 1.12% of its stake after which the total value it holdings stand at $7,016,274,843, while T. Rowe Price Associates, Inc. reduced -8.78% of its stake to hold $6.87 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 198,646 shares of Intuit Inc., while JPMorgan Investment Management, I bought -356,709 shares. At present, Geode Capital Management LLC is holding 5,314,664 shares valued at $2.72 billion. Fidelity Management & Research Co owned 4,280,641 shares of the company at the time of its most recent 13F filing, worth $2.19 billion.

According to FactSet, Intuit Inc.’s share price will average $542.64 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.96 percent from its previous closing price of $519.05. Analysts expect Intuit Inc. stock to reach the higher price of $615.00, while the lowest price estimate is $410.00. However, 31 analysts have rated INTU stock as an Overweight in their predictions for 2023.


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