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Scott Cook, the founder and a director at Intuit Inc. (NASDAQ:INTU), recently sold a significant portion of the company’s stock. According to a Form 4 filing with the Securities and Exchange Commission, Cook sold shares totaling approximately $3.9 million on February 28, 2025. The transactions, executed as part of a pre-established trading plan, involved a series of sales at prices ranging from $600.135 to $613.9529 per share. InvestingPro data shows Intuit currently trades near its Fair Value, with an impressive market capitalization of $167.9 billion and industry-leading gross margins of nearly 80%.
These transactions were carried out through various trusts associated with Cook, reducing his indirect holdings. Following the sales, Cook maintains ownership of 6,219,900 shares through these trusts. These sales were part of a trading plan adopted in December 2023, designed to facilitate orderly sales of stock over time. According to InvestingPro analysis, Intuit maintains a "GREAT" financial health score, with 14+ additional exclusive insights available to subscribers through detailed Pro Research Reports.
In other recent news, Intuit Inc. has reported strong financial results for its second quarter, with revenues reaching $3.96 billion, surpassing forecasts by approximately $120 million, and earnings per share (EPS) coming in at $3.32, which was $0.75 higher than expected. The company’s robust performance was largely driven by a 21% increase in its Global Business Services Online Ecosystem and a 36% growth in Credit Karma. Piper Sandler has responded to these results by raising Intuit’s stock price target to $785, maintaining an Overweight rating. Similarly, Mizuho (NYSE:MFG) Securities increased its price target to $765, keeping an Outperform rating, citing strong performance in Intuit’s TurboTax franchise and potential in Credit Karma.
Conversely, Scotiabank (TSX:BNS) adjusted its price target downward to $600 while maintaining a Sector Perform rating, reflecting a more cautious outlook despite acknowledging Intuit’s earnings that surpassed expectations. BMO Capital Markets also reduced its price target to $714 but reaffirmed an Outperform rating, noting the company’s solid execution in tax-related services. Stifel maintained its Buy rating with a $725 price target, highlighting Intuit’s 30% increase in online services revenue and strong tax season performance. These developments reflect a range of perspectives from analysts, with varying price targets and ratings based on Intuit’s recent financial performance and strategic initiatives.
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