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Insider Selling: EVP, Chief Technology Officer Alex Balazs Sells Shares of Intuit Inc (INTU)

On September 10, 2024, Alex Balazs, Executive Vice President and Chief Technology Officer of Intuit Inc (NASDAQ:INTU), executed a sale of 2,941 shares of the company. The transaction was filed on the same day with the SEC. Following this transaction, the insider now directly owns 19,939 shares in the company.

Intuit Inc (NASDAQ:INTU) is a leading provider of financial management, accounting, and tax preparation solutions for small businesses, consumers, and accounting professionals. The company's main products include TurboTax, QuickBooks, Mint, and the Credit Karma platform, which collectively aim to empower users to manage their finances more efficiently.

Over the past year, Alex Balazs has sold a total of 9,492 shares of Intuit Inc and has not made any purchases of the stock. This recent sale is part of a broader trend observed within the company, where there have been 25 insider sells and no insider buys over the past year.

Shares of Intuit Inc were trading at $628.76 on the day of the sale, positioning the company with a market cap of approximately $180.49 billion. The price-earnings ratio of the stock stands at 61.62, significantly above both the industry median of 25.83 and the historical median for the company.

The GF Value of Intuit Inc is estimated at $621.62, suggesting that the stock is Fairly Valued with a price-to-GF-Value ratio of 1.01. The GF Value is calculated considering historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates from analysts.

Insider Selling: EVP, Chief Technology Officer Alex Balazs Sells Shares of Intuit Inc (INTU)
Insider Selling: EVP, Chief Technology Officer Alex Balazs Sells Shares of Intuit Inc (INTU)
Insider Selling: EVP, Chief Technology Officer Alex Balazs Sells Shares of Intuit Inc (INTU)
Insider Selling: EVP, Chief Technology Officer Alex Balazs Sells Shares of Intuit Inc (INTU)

This insider selling activity could be of interest to current and potential investors, as it provides insight into the perspectives of high-level executives on the company's stock value and future prospects.

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.