Fmr LLC Acquires 6,934 Shares of Informatica Inc. (NYSE:INFA)

Fmr LLC lifted its holdings in Informatica Inc. (NYSE:INFA) by 555.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,182 shares of the technology company’s stock after buying an additional 6,934 shares during the quarter. Fmr LLC’s holdings in Informatica were worth $207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Informatica by 398.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,042,961 shares of the technology company’s stock worth $178,046,000 after acquiring an additional 5,631,139 shares during the last quarter. Fiera Capital Corp increased its holdings in shares of Informatica by 439.2% in the second quarter. Fiera Capital Corp now owns 1,554,592 shares of the technology company’s stock valued at $48,006,000 after purchasing an additional 1,266,265 shares in the last quarter. Fred Alger Management LLC raised its position in 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 purchasing an additional 307,803 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Informatica by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 682,648 shares of the technology company’s stock worth $21,081,000 after buying an additional 42,432 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Informatica by 62.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 615,958 shares of the technology company’s stock valued at $15,571,000 after buying an additional 237,876 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on INFA. UBS Group boosted their target price on Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Guggenheim reissued a “buy” rating on shares of Informatica in a report on Friday, October 18th. JPMorgan Chase & Co. cut their target price on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Truist Financial assumed coverage on shares of Informatica in a research report on Thursday, December 12th. They set a “buy” rating and a $34.00 price target for the company. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Informatica currently has an average rating of “Moderate Buy” and a consensus price target of $33.27.

Informatica Price Performance

Shares of INFA stock opened at $26.86 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. Informatica Inc. has a 12-month low of $22.08 and a 12-month high of $39.80. The firm has a fifty day moving average of $26.36 and a 200-day moving average of $26.27. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 127.91, a price-to-earnings-growth ratio of 5.68 and a beta of 1.00.

Informatica announced that its Board of Directors has initiated 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 buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

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

Informatica Company 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.