Estimated reading time: 0 minutes, 52 seconds
BIG INTUIT INVESTOR SELLS
Having covered the way Relational Investors forced its way onto the Intuit board a couple of years ago, I lost track of the firm's holdings. Relational has been known as an expert in corporate governance. In the case of other companies, it has bought enough share to wind up on the board by threatening proxy fights and it has claimed some CEO heads; obviously not at Intuit.
In June, it sold just over 813,000 shares at more than $40.2 million, with sales shown in the name of David H. Batchelder, the Relational Partner who sits on the board. The company had 11.1 million shares when it reported its ownership on June 21 so that leaves more than 10 million shares, still more than $440 million at yesterday’s depressed share price. Just for comparison, last year, Batchelder, also a member of the Home Depot board, sold more than $770 million from March through November in 2010, this year's Intuit take hardly seems worth talking about. Looking at the latest statement of holdings on Home Depot, it looks like Relational completely unwound its position.
Most Read
-
-
May 22 2017
-
Written by mark
-
-
-
May 22 2017
-
Written by BobWScott
-
-
-
May 19 2021
-
Written by BobWScott
-
-
-
May 25 2016
-
Written by mark
-