Intuit Founder Selling Into Seasonal Weakness

By William Trent, CFA of Stock Market Beat

Intuit Founder Sells Shares – Forbes.com

The founder and chairman of the executive committee of software maker Intuit Inc. sold 316,734 shares of common stock, according to Securities and Exchange Commission filings Monday.

Interesting timing, with the stock down approximately 20% from recent highs (and in line with the weak seasonality we warned about). Since the seasonal patterns are there for all to see, one would expect the founder to have noticed them as well. The idea that there may be something more than seasonality could have contributed to Monday’s sell-off.

Disclosure: At the time of publication the author holds put options on shares of Intuit.

The author may hold a position in the securities discussed. The author’s current holdings are as follows: Long: Union Pacific (UNP) put options; Air Products (APD) put options; Nasdaq 100 (QQQQ) put options; FedEx (FDX) put options; Intuit (INTU) put options; Bookham (BKHM; Ballard Power (BLDP); Syntax Brillian (BRLC); CMGI (CMGI); Genentech (DNA); Ion Media Networks (ION); Three Five Systems (TFS); IShares Japan (EWJ); StreetTracks Gold (GLD); Starbucks (SBUX); U.S. Oil Fund (USO); Plantronics (PLT) call options; Short: Landstar (LSTR) put options; Ceradyne (CRDN) put options; Dell (DELL) put options; Plantronics (PLT) put options;

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