Innoviz Technologies Ltd. (NASDAQ:INVZ) Shares Sold by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC trimmed its holdings in Innoviz Technologies Ltd. (NASDAQ:INVZ) by 26.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,340 shares of the company’s stock after selling 18,255 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Innoviz Technologies were worth $47,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INVZ. Ground Swell Capital LLC acquired a new stake in shares of Innoviz Technologies during the 2nd quarter worth $26,000. Kovack Advisors Inc. acquired a new stake in Innoviz Technologies during the first quarter worth about $28,000. Virtu Financial LLC raised its holdings in shares of Innoviz Technologies by 85.2% in the 1st quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock worth $116,000 after purchasing an additional 39,633 shares during the period. Choreo LLC purchased a new position in shares of Innoviz Technologies in the 2nd quarter worth about $185,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Innoviz Technologies in the 4th quarter valued at about $255,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

Analyst Upgrades and Downgrades

INVZ has been the topic of several research reports. Rosenblatt Securities restated a “neutral” rating and issued a $3.25 price target on shares of Innoviz Technologies in a report on Tuesday, September 10th. Westpark Capital reissued a “buy” rating and issued a $6.00 target price on shares of Innoviz Technologies in a research note on Tuesday, August 6th. The Goldman Sachs Group cut shares of Innoviz Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $2.25 to $1.00 in a research report on Thursday, July 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $2.00 price objective on shares of Innoviz Technologies in a research report on Monday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3.85.

Innoviz Technologies Stock Performance

Shares of INVZ stock opened at $0.82 on Wednesday. The firm has a fifty day simple moving average of $0.71 and a 200-day simple moving average of $0.97. The company has a market capitalization of $112.09 million, a PE ratio of -1.07 and a beta of 0.99. Innoviz Technologies Ltd. has a twelve month low of $0.50 and a twelve month high of $2.99.

Innoviz Technologies (NASDAQ:INVZ) last announced its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Innoviz Technologies had a negative net margin of 338.67% and a negative return on equity of 75.99%. The business had revenue of $6.66 million for the quarter, compared to analyst estimates of $4.77 million. During the same quarter in the prior year, the business earned ($0.23) earnings per share. Equities research analysts predict that Innoviz Technologies Ltd. will post -0.64 EPS for the current year.

About Innoviz Technologies

Innoviz Technologies Ltd. manufactures and sells automotive grade LiDAR sensors and perception software to enable safe autonomous driving at a mass scale. The company offers InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxis, shuttles, trucks, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.