Geode Capital Management LLC Acquires 311,003 Shares of Informatica Inc. (NYSE:INFA)

Geode Capital Management LLC boosted its holdings in shares of Informatica Inc. (NYSE:INFA) by 34.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,213,188 shares of the technology company’s stock after purchasing an additional 311,003 shares during the quarter. Geode Capital Management LLC owned about 0.40% of Informatica worth $30,677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Informatica by 11.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,935 shares of the technology company’s stock worth $201,000 after buying an additional 810 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Informatica by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,824 shares of the technology company’s stock valued at $674,000 after purchasing an additional 902 shares during the period. Verdence Capital Advisors LLC grew its position in Informatica by 10.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 10,387 shares of the technology company’s stock worth $263,000 after purchasing an additional 993 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Informatica by 42.1% during the 2nd quarter. Amalgamated Bank now owns 3,498 shares of the technology company’s stock worth $108,000 after purchasing an additional 1,037 shares during the period. Finally, O Neil Global Advisors Inc. raised its position in shares of Informatica by 23.5% during the second quarter. O Neil Global Advisors Inc. now owns 7,961 shares of the technology company’s stock valued at $246,000 after buying an additional 1,516 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

INFA has been the topic of a number of recent research reports. Guggenheim reissued a “buy” rating on shares of Informatica in a research report on Friday, October 18th. JPMorgan Chase & Co. decreased their price objective on Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Truist Financial assumed coverage on Informatica in a research report on Thursday, December 12th. They issued a “buy” rating and a $34.00 target price for the company. Finally, UBS Group lifted their price target on shares of Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.27.

Insider Activity

In related news, CAO Mark Pellowski sold 10,035 shares of Informatica stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $27.06, for a total value of $271,547.10. Following the completion of the transaction, the chief accounting officer now directly owns 138,477 shares of the company’s stock, valued at $3,747,187.62. The trade was a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Arthur Schweitzer sold 10,734 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $27.05, for a total transaction of $290,354.70. Following the sale, the executive vice president now directly owns 353,778 shares in the company, valued at approximately $9,569,694.90. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,296 shares of company stock worth $1,057,684. Insiders own 48.10% of the company’s stock.

Informatica Price Performance

NYSE:INFA opened at $26.98 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.75. The firm has a market cap of $8.24 billion, a PE ratio of 128.48, a price-to-earnings-growth ratio of 5.68 and a beta of 1.00. Informatica Inc. has a 12 month low of $22.08 and a 12 month high of $39.80. The company’s 50-day moving average price is $26.36 and its two-hundred day moving average price is $26.23.

Informatica declared that its Board of Directors has approved a share buyback plan on Wednesday, October 30th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Informatica Profile

Informatica Inc develops an artificial intelligence-powered platform that connects, manages, and unifies data across multi-vendor, multi-cloud, and hybrid systems at enterprise scale worldwide. Its platform includes a suite of interoperable data management products, including data integration products to ingest, transform, and integrate data; API and application integration products that enable users to create and manage APIs and integration processes for app-to-app synchronization, business process orchestration, B2B partner management, application development, and API management; data quality and observability products to profile, cleanse, standardize, observe, and monitor data to deliver accurate, complete, and consistent data; and master data management products to create an authoritative single source of truth of business-critical data.