are not institutions selling. They are the individual investors that, for whatever reason, do not want to hold this stock until after the upcoming earnings announcement in early August.
I can appreciate their uneasiness and lack of internal fortitude. This stock is very roller coaster like, but it is changing it's image and it's long term outlook. Everything to the Internet is their goal. This stock is making a name for itself in the B-B industry.
Today's drop is most likely profit taking. I don't see many big blocks trade too, so most people who sell are individuals. INTU has been on a rise for the past two weeks from 30s to mid 40s. The earning release is still several weeks away, today's drop should be related to that yet. Of course, I wish INTU will do good today since Nasdaq is on the rise.
INTU seems to trade flat or down when some other player in tech has a big news to drive NASDAQ up. (i.e. YHOO) I have had a position with INTU since the high 20's early 30's, and this has been the pattern. To trade down this far on a no news day for INTU is definitely a good time to add some shares for the long run (to the 70's by years end), or a quick 'day trade" for a 2 to 3 point gain from the 41 1/2 level or so today. INTU could easily trade to 44-46 by Friday. There seems genuine support at 40. Good luck to INTU longs