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

Fmr LLC lifted its position in Informatica Inc. (NYSE:INFA) by 555.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in Informatica in the second quarter valued at $46,000. Amalgamated Bank raised its holdings in shares of Informatica by 42.1% in the 2nd quarter. Amalgamated Bank now owns 3,498 shares of the technology company’s stock valued at $108,000 after purchasing an additional 1,037 shares during the period. New York State Teachers Retirement System acquired a new stake in Informatica in the 3rd quarter valued at about $149,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Informatica by 11.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,935 shares of the technology company’s stock valued at $201,000 after purchasing an additional 810 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Informatica during the second quarter worth about $216,000. 98.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial initiated coverage on Informatica in a research note on Thursday, December 12th. They issued a “buy” rating and a $34.00 price objective on the stock. UBS Group increased their price target on Informatica from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Guggenheim reissued 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 issued 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 Trading Up 2.8 %

INFA stock opened at $26.86 on Friday. Informatica Inc. has a 52 week low of $22.08 and a 52 week high of $39.80. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.17 and a current ratio of 2.17. The company’s 50-day simple moving average is $26.36 and its 200 day simple moving average is $26.27. The company has a market capitalization of $8.20 billion, a PE ratio of 127.91, a price-to-earnings-growth ratio of 5.68 and a beta of 1.00.

Informatica announced that its board has initiated a stock buyback program on Wednesday, October 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP John Arthur Schweitzer sold 8,501 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total transaction of $227,486.76. Following the completion of the sale, the executive vice president now directly owns 393,686 shares in the company, valued at approximately $10,535,037.36. This represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark Pellowski sold 10,035 shares of the firm’s stock in a transaction on 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 owns 138,477 shares in the company, valued at $3,747,187.62. The trade was a 6.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,296 shares of company stock worth $1,057,684 in the last quarter. 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.