Insider Selling: Intuit SVP Sells 11,988 Shares of Stock (INTU)
Intuit (NASDAQ:INTU) SVP Sasan K. Goodarzi sold 11,988 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $82.23, for a total transaction of $985,773.24. Following the sale, the senior vice president now directly owns 3,179 shares of the company’s stock, valued at approximately $261,409. The sale was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Intuit from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 27th. They now have a $80.60 price target on the stock. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of Intuit in a research note on Friday, August 22nd. They now have a $100.00 price target on the stock, up previously from $89.00. Finally, analysts at Barclays raised their price target on shares of Intuit from $69.00 to $90.00 in a research note on Friday, August 22nd. They now have an “equal weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $81.37.
Intuit (NASDAQ:INTU) traded down 0.92% during mid-day trading on Wednesday, hitting $82.12. 1,616,914 shares of the company’s stock traded hands. Intuit has a 52 week low of $63.54 and a 52 week high of $86.80. The stock’s 50-day moving average is $82.51 and its 200-day moving average is $79.08. The company has a market cap of $23.322 billion and a P/E ratio of 26.84.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 21st. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.06. The company had revenue of $714.00 million for the quarter, compared to the consensus estimate of $699.49 million. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Analysts expect that Intuit will post $2.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 20th. Shareholders of record on Friday, October 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $0.19.
Intuit Inc (NASDAQ:INTU) is a provider of business and financial management solutions for small businesses, consumers, accounting professionals and financial institutions.
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