Yahoo Finance Intuit Inc EVP, Chief Technology Officer Alex Balazs Sells 3,964 Shares
On January 9, 2024, Alex Balazs, the EVP, Chief Technology Officer of Intuit Inc (NASDAQ:INTU), sold 3,964 shares of the company. The transaction was filed with the SEC and can be found through this SEC Filing.
Intuit Inc is a business and financial software company that develops and sells financial, accounting, and tax preparation software and related services for small businesses, accountants, and individuals. The company's main products include QuickBooks, TurboTax, and Mint, which are designed to simplify complex financial processes such as managing business finances, preparing taxes, and tracking personal expenditures.
Over the past year, the insider has sold a total of 6,271 shares and has not made any purchases. The recent sale by the insider is part of a trend observed over the past year, where there have been no insider buys and 29 insider sells for Intuit Inc.
On the day of the sale, shares of Intuit Inc were trading at $599.68, resulting in a market capitalization of $169.77 billion. The company's price-earnings ratio stands at 66.53, which is above both the industry median of 26.85 and the historical median for the company.
The stock's price-to-GF-Value ratio is 1.05, indicating that Intuit Inc is considered Fairly Valued according to the GF Value estimate. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.
The insider's recent transaction aligns with the overall trend of insider activity for the company, which has been characterized by more selling than buying over the past year.
Investors often monitor insider transactions as they can provide insights into the insider's view of the company's stock value. However, insider transactions are only one of many factors that should be considered when evaluating a company's financial health and investment potential.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
