MOUNTAIN VIEW, CA — As 2026 begins, Intuit Inc. (NASDAQ: INTU) finds itself navigating a pivotal moment marked by significant insider trading activity. Scott Cook, the company’s co-founder and long-standing director, recently liquidated over $100 million worth of shares in rapid succession—occurrences that raised eyebrows across the fintech industry. Notably, his last transactions included a $50.5 million sale on December 29 and another $50.3 million sale the following day. Observers are now considering whether Cook’s high-profile selling reflects potential concerns about Intuit’s valuation, especially in light of recent regulatory changes and evolving tax laws.
Insider selling frequently raises skepticism, and Cook’s decision to divest is particularly remarkable due to its timing. Throughout the latter half of 2025, Intuit’s stock has struggled to surpass the highs it reached earlier in the year. As it approached key resistance levels with the onset of the 2026 tax season—the first impacted by the comprehensive “One Big Beautiful Bill” (OBBBA) tax overhaul—the market is closely analyzing whether Cook’s exit signals a peak in the company’s market performance or simply reflects a standard diversification strategy within his vast wealth.
The sale of 148,000 shares was executed as part of a pre-planned strategy under a Rule 10b5-1 trading plan established on September 3, 2025. Cook sold 75,000 shares at an average price of $673.43 and then another 73,000 shares as prices climbed to $689.96. Although the sale raised significant capital, it accounts for only a small portion of Cook’s total holdings, as the family trust still maintains approximately 5.67 million shares, valued around $3.8 billion based on current market rates.
Market reactions indicate a cautious stance. As of the start of 2026, Intuit has been testing its 200-day moving average at approximately $680.31, a level that has been a barrier since the company’s earnings report in late November. While Intuit announced a notable 18% increase in revenue to $3.9 billion, conservative guidance for the upcoming quarter has tempered investor enthusiasm, further complicated by insider selling pressure.
Meanwhile, the competitive landscape within the fintech sector is shifting. Intuit remains a leader in accounting and tax solutions, primarily through its “AI-first” strategy and the introduction of Intuit Assist, which maintains QuickBooks’ 75% market share. However, the rise of Xero Limited (OTC: XROLF)—especially following its $2.5 billion acquisition of the payment platform Melio—poses a growing threat. Xero’s approach bridges simple ledger management with broader fintech functionalities, challenging Intuit’s lucrative small and medium-sized business payment processing.
Additionally, with H&R Block (NYSE: HRB) now under the leadership of CEO Curtis Campbell—an Intuit alumnus—there is potential for increased competition. H&R Block’s hybrid model of combining retail outlets with digital tools may appeal to taxpayers who need assistance due to changes brought about by the new SALT caps, drawing clientele away from Intuit.
The recent overhaul of the U.S. tax code through the OBBBA has also introduced new complexities, benefiting Intuit’s business model. These complexities tend to push users toward higher-margin service tiers that incorporate expert assistance. Furthermore, the discontinuation of the IRS Direct File program represents a strategic win for Intuit, as it removes a competing free alternative to its TurboTax services, paving the way for increased customer acquisition during a complicated tax season.
Moving forward, key focus points remain on the $680 price level for Intuit’s stock. A successful breakthrough above this resistance, especially during the crucial early weeks of tax season, could alleviate concerns stemming from insider selling. Analysts largely maintain a bullish outlook, with a consensus price target around $796, suggesting confidence in a rebound rather than a downturn. The upcoming earnings report will be critical to gauge how effectively Intuit’s new features engage customers, particularly those navigating tax complexities.
In the long run, Intuit must continuously demonstrate that its investments in AI can fortify its competitive edge against an invigorated Xero. As the market unfolds, investors should remain observant of both the stock’s performance against the $680 threshold and any developments in regulatory scrutiny from the FTC regarding marketing practices. If Intuit can adeptly handle these dynamics while leveraging the new tax regulations, the recent insider selling will likely be viewed as a minor footnote in a potentially transformative year for the company.