submits: Intuit Inc.
( ) announced record Q3 revenues and increased guidance last week. Basically, it managed to pop the stock north of $30 (almost stayed north of $31). Institutions have been increasing their exposures and the market thinks it has a winner.
Insiders have been selling. The Chairman William Campbell unloaded big time. Scott Cook Founder, Director and Chair of Executive Committee has unloaded.
Alex Lintner the SVP of Strategy and Corporate Development also pulled the trigger and parted with large chunks of shares.
These three guys know all the best stuff and have a feel for the business. The sales have all been proper by current SEC standards, I'm sure.
But the tell is huge. In cash we trust all - others seem to be heading for the doors.
If you believe in moving averages, the 50 day dropped below the 200 day around the last week of Feb.
Management on their conference call keeps referring to the seasonality of the business and does not provide any insights into the future because the future is too far away. Much too convenient in light of personal decisions.
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