'Intuit' Executive Purchases Hundreds of Thousands in Company Stock... Issues $2 Billion in Corporate Bonds

Intuit Inc. (Nasdaq: INTU) announced that on May 22 and 26, executive Vasant M. Prabhu acquired 1,750 shares of the company’s stock in open‐market transactions. The shares were purchased at an average price in the mid-$309 range, for a total outlay of approximately $540,000 (about KRW 700 million).

On June 11, Intuit entered into a second supplemental indenture under its 2020 base indenture, issuing $750 million of 4.950% senior unsecured notes due 2031 and $1 billion of 5.500% senior unsecured notes due 2036. In total, the company raised $1.75 billion (approximately KRW 2.4 trillion) and amended certain collateral, sale-and-leaseback, and default provisions of the original indenture.

In its third quarter of fiscal 2026 results, released May 20, Intuit reported revenue growth of about 10% year-over-year. However, the company’s announcement of a growth slowdown and plans to reduce its global workforce by roughly 3,000 employees—about 17% of its headcount—led to increased stock volatility. On June 10, following remarks on its pricing policy, Intuit’s share price briefly plunged by around 20%, prompting a U.S. securities class-action law firm to launch an investigation into potential investor losses.

Intuit is a U.S. financial technology company offering tax, accounting, credit, and marketing services through brands such as TurboTax, QuickBooks, Credit Karma, and Mailchimp. Its clients include individuals, small and mid-sized businesses, and accounting professionals. The company is shifting toward a platform-centric model by introducing AI-powered features in new products and reorganizing its workforce.