JPMorgan Chase & Co. Acquires 1,324,006 Shares of Informatica Inc. (NYSE:INFA)

JPMorgan Chase & Co. raised its holdings in shares of Informatica Inc. (NYSE:INFA) by 826.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,484,147 shares of the technology company’s stock after buying an additional 1,324,006 shares during the period. JPMorgan Chase & Co. owned about 0.49% of Informatica worth $37,519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of INFA. Wellington Management Group LLP boosted its holdings in Informatica by 29.9% during the 3rd quarter. Wellington Management Group LLP now owns 11,564,047 shares of the technology company’s stock valued at $292,339,000 after acquiring an additional 2,662,379 shares during the period. Allspring Global Investments Holdings LLC raised its position in Informatica by 398.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,042,961 shares of the technology company’s stock valued at $178,046,000 after purchasing an additional 5,631,139 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Informatica by 34.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,213,188 shares of the technology company’s stock worth $30,677,000 after buying an additional 311,003 shares during the period. State Street Corp lifted its holdings in Informatica by 25.1% in the 3rd quarter. State Street Corp now owns 1,051,013 shares of the technology company’s stock worth $26,570,000 after buying an additional 210,843 shares during the period. Finally, Fred Alger Management LLC grew its position in shares of Informatica by 63.3% in the 2nd quarter. Fred Alger Management LLC now owns 794,084 shares of the technology company’s stock worth $24,521,000 after buying an additional 307,803 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Informatica Stock Performance

Shares of INFA opened at $26.50 on Monday. Informatica Inc. has a 52 week low of $22.08 and a 52 week high of $39.80. 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 stock has a market cap of $8.09 billion, a P/E ratio of 126.20, a P/E/G ratio of 5.71 and a beta of 1.00. The business’s 50 day moving average price is $26.28 and its 200-day moving average price is $26.07.

Informatica announced that its Board of Directors has initiated a share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CAO Mark Pellowski sold 10,026 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.76, for a total transaction of $268,295.76. Following the completion of the sale, the chief accounting officer now owns 142,671 shares of the company’s stock, valued at $3,817,875.96. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Arthur Schweitzer sold 10,734 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $27.05, for a total value of $290,354.70. Following the completion of the transaction, the executive vice president now directly owns 353,778 shares in the company, valued at $9,569,694.90. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,296 shares of company stock valued at $1,057,684. 48.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.