110,000 Shares in Informatica Inc. (NYSE:INFA) Bought by Summit Partners Public Asset Management LLC

Summit Partners Public Asset Management LLC acquired a new position in shares of Informatica Inc. (NYSE:INFA) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 110,000 shares of the technology company’s stock, valued at approximately $2,781,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Informatica by 398.9% in 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 buying an additional 5,631,139 shares during the period. Fiera Capital Corp boosted its holdings in shares of Informatica by 439.2% in the 2nd quarter. Fiera Capital Corp now owns 1,554,592 shares of the technology company’s stock valued at $48,006,000 after buying an additional 1,266,265 shares during the period. Nippon Life Global Investors Americas Inc. acquired a new position in shares of Informatica in the 2nd quarter valued at about $10,806,000. Fred Alger Management LLC boosted its holdings 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 valued at $24,521,000 after buying an additional 307,803 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Informatica by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 5,575,869 shares of the technology company’s stock valued at $195,155,000 after buying an additional 267,748 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on INFA. 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 report on Friday, October 25th. Guggenheim restated a “buy” rating on shares of Informatica in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Informatica from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, UBS Group boosted their price target on shares of Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.20.

Informatica Price Performance

NYSE INFA opened at $26.39 on Friday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $25.89 and a 200 day simple moving average of $26.61. The company has a market cap of $8.06 billion, a P/E ratio of 125.67, a P/E/G ratio of 5.62 and a beta of 1.04. Informatica Inc. has a 1 year low of $22.08 and a 1 year high of $39.80.

Informatica announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the technology company to buy up to 5.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Informatica

In other Informatica news, EVP John Arthur Schweitzer sold 8,501 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.76, for a total value of $227,486.76. Following the completion of the sale, the executive vice president now directly owns 393,686 shares of the company’s stock, valued at $10,535,037.36. This represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark Pellowski sold 10,026 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total transaction of $268,295.76. Following the transaction, the chief accounting officer now directly owns 142,671 shares of the company’s stock, valued at $3,817,875.96. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.