Intuit Inc.’s recently made public that its EVP and CFO Aujla Sandeep unloaded Company’s shares for reported $5.7 million on Aug 29. In the deal valued at $531.01 per share,10,732 shares were sold. As a result of this transaction, Aujla Sandeep now holds 235 shares worth roughly $ 0.13 million.
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Then, Tessel Marianna sold 7,310 shares, generating $3,883,902 in total proceeds. Upon selling the shares at $531.31, the EVP, Chief Technology Officer now owns 28,840 shares.
Before that, Notarainni Mark P. sold 7,849 shares. Intuit Inc. shares valued at $4,068,196 were divested by the EVP, Consumer Group at a price of $518.31 per share. As a result of the transaction, Notarainni Mark P. now holds 984 shares, worth roughly $0.54 million.
Exane BNP Paribas upgraded its Intuit Inc. [INTU] rating to a Neutral from a an Underperform in a research note published on Tuesday. PT values the company’s stock at a premium of -3.49 to its Tuesday closing price.
Price Performance Review of INTU
On Tuesday, Intuit Inc. [NASDAQ:INTU] saw its stock jump 0.18% to $550.58. On the same session, the stock had its day’s lowest price of $545.54, but rose to a high of $555.00. Over the last five days, the stock has gained 6.11%. Intuit Inc. shares have risen nearly 41.46% since the year began. Nevertheless, the stocks have risen 29.40% over the past one year. While a 52-week high of $549.85 was reached on 09/05/23, a 52-week low of $352.63 was recorded on 01/06/23. SMA at 50 days reached $492.89, while 200 days put it at $435.80. A total of 1.37 million shares were traded, compared to the trading of 1.34 million shares in the previous session.
Levels Of Support And Resistance For INTU Stock
The 24-hour chart illustrates a support level at 545.75, which if violated will result in even more drops to 540.91. On the upside, there is a resistance level at 555.21. A further resistance level may holdings at 559.83. The Relative Strength Index (RSI) on the 14-day chart is 76.98, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 33.00, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 5.72%. Stochastics %K at 97.86% 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.
According to FactSet, Intuit Inc.’s share price will average $546.60 in the next year, based on opinions of analysts polled by the firm. This is up nearly 0.07 percent from its previous closing price of $549.60. Analysts expect Intuit Inc. stock to reach the higher price of $615.00, while the lowest price estimate is $410.00. However, 30 analysts have rated INTU stock as an Overweight in their predictions for 2023.