Intuit Inc. sees multiple institutional investors trim stakes in Q1

Fukoku Mutual Life Insurance reduced its Intuit Inc. holding by 87% in the first quarter, selling 6,000 shares and ending the period with 896 shares valued at about $387,000. Appleton Partners Inc. cut its stake by 65.2%, disposing of 15,375 shares and retaining 8,199 shares worth roughly $3.55 million.

Company insiders also traded shares: director Richard L. Dalzell sold 284 shares for $74,498, while director Vasant M. Prabhu bought 500 shares for $154,855. Analysts revised price targets and ratings for Intuit, with Barclays lowering its target to $443, Bank of America issuing a $400 buy rating, RBC cutting its target to $500, Jefferies reducing its target to $550, and Weiss moving the rating to sell. Overall, institutional investors own about 83.7% of Intuit’s stock.