Intuit Inc EVP, Chief Technology Officer Alex Balazs Sells Company Shares
Intuit Inc (NASDAQ:INTU), a financial software company that provides financial, accounting, and tax preparation software for small businesses, accountants, and individuals, has reported an insider sale according to a recent SEC filing. Alex Balazs, the company's Executive Vice President and Chief Technology Officer, sold 280 shares of Intuit Inc on March 20, 2024.SEC Filing indicates that the insider completed the transaction at an average price of $636.38 per share, which resulted in a total transaction amount of $178,186.40. Following this transaction, the insider's direct ownership in the company has adjusted accordingly.Over the past year, Alex Balazs has been active in the market, selling a total of 6,551 shares and making no purchases of Intuit Inc stock. This latest transaction continues the trend of insider sales for the company, with a total of 28 insider sells and no insider buys occurring over the past year.
The market capitalization of Intuit Inc stands at $182.35 billion, reflecting the scale and significance of the company within its industry. The stock's price-earnings ratio is currently 66.46, which is above both the industry median of 28.1 and the company's own historical median. This valuation metric suggests a premium compared to its peers and its own past trading history.Intuit Inc's stock price on the day of the insider's sale was $636.38. When compared to the GuruFocus Value (GF Value) of $580.52, the price-to-GF-Value ratio is 1.1, indicating that the stock is considered Modestly Overvalued based on GuruFocus's intrinsic value estimate.
The GF Value is determined by considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates from Morningstar analysts.Investors and stakeholders in Intuit Inc may find the insider's recent sale noteworthy as they assess the company's stock valuation and insider sentiment.
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.
