True Freedom Investing LLC Makes New Investment in Intuit Inc. $INTU

True Freedom Investing LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,804 shares of the software maker’s stock, valued at approximately $2,942,000.

Several other hedge funds also recently modified their holdings of INTU. Joseph Group Capital Management acquired a new stake in shares of Intuit during the fourth quarter valued at about $25,000. Intesa Sanpaolo Wealth Management bought a new stake in shares of Intuit during the fourth quarter worth about $25,000. MidFirst Bank acquired a new position in shares of Intuit in the second quarter valued at approximately $28,000. HHM Wealth Advisors LLC raised its holdings in Intuit by 75.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock valued at $30,000 after buying an additional 30 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in Intuit during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on INTU. BMO Capital Markets decreased their price target on shares of Intuit from $550.00 to $412.00 and set an “outperform” rating for the company in a research report on Thursday, May 21st. Wolfe Research reiterated an “outperform” rating and set a $400.00 price target on shares of Intuit in a report on Thursday, May 21st. UBS Group reissued a “neutral” rating on shares of Intuit in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on Intuit from $530.00 to $425.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Truist Financial restated a “hold” rating and set a $350.00 price objective (down from $410.00) on shares of Intuit in a research report on Monday, August 3rd. Twenty analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $451.26.

Intuit Price Performance

Shares of NASDAQ INTU opened at $367.00 on Friday. Intuit Inc. has a twelve month low of $252.84 and a twelve month high of $705.08. The firm has a fifty day simple moving average of $299.09 and a 200 day simple moving average of $359.96. The company has a market capitalization of $100.39 billion, a PE ratio of 22.23, a P/E/G ratio of 1.15 and a beta of 0.97. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, beating analysts’ consensus estimates of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $8.54 billion. During the same quarter in the prior year, the firm posted $11.65 earnings per share. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that Intuit Inc. will post 18.19 EPS for the current year.

Insider Activity

In other Intuit news, Director Vasant M. Prabhu acquired 500 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of $309.71 per share, with a total value of $154,855.00. Following the purchase, the director directly owned 1,750 shares of the company’s stock, valued at $541,992.50. This trade represents a 40.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard L. Dalzell sold 338 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $279.86, for a total value of $94,592.68. Following the sale, the director owned 12,326 shares in the company, valued at approximately $3,449,554.36. The trade was a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,239 shares of company stock valued at $348,354. Corporate insiders own 2.49% of the company’s stock.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s TurboTax, Credit Karma and QuickBooks businesses remain central to the bullish case. Analysts say the company is building a year-round consumer financial platform and using cross-selling to increase engagement and average revenue per user. Intuit Consumer Flywheel Gains: Can Cross-Selling Sustain Higher ARPU?
• Positive Sentiment: Some analysts see potential for an upside earnings surprise, citing valuation compression, raised guidance and continued momentum in Intuit’s key growth engines. Bank of America maintained a Buy rating and a $400 price target, supporting investor confidence before the report. Intuit: Resilient Growth Drivers and Attractive Valuation Support Buy Rating
• Neutral Sentiment: Options-oriented coverage highlights the possibility of generating income by selling calls against existing INTU shares. The strategy may provide an attractive yield but limits upside if the stock rises above the option’s strike price. Get Paid 16% A Year To Hold INTU Stock You Already Own
• Neutral Sentiment: Wall Street’s outlook is mixed ahead of earnings. Piper Sandler reaffirmed an Underweight rating, while another valuation update reduced its fair-value estimate from $488.17 to $449.20, reflecting concerns about growth expectations, valuation and potential artificial-intelligence risks. Piper Sandler Reaffirms Underweight Rating for Intuit
• Negative Sentiment: Several law firms are publicizing a securities-fraud class action against Intuit and certain officers. The lawsuit alleges that the company made material misstatements or omissions about the strength of its tax-related business and TurboTax growth disclosures. Investors face a September 8 deadline to seek lead-plaintiff status. The legal claims are allegations and could create reputational, financial and investor-confidence risks. Intuit Securities Fraud Class Action Deadline Alert

Intuit Profile

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.