Migdal Insurance & Financial Holdings Ltd. Raises Stock Holdings in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,805,731 shares of the company’s stock after purchasing an additional 810,731 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Innoviz Technologies were worth $11,434,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in INVZ. Traynor Capital Management Inc. bought a new stake in shares of Innoviz Technologies during the 4th quarter valued at about $25,000. FNY Investment Advisers LLC bought a new stake in shares of Innoviz Technologies during the 4th quarter valued at about $25,000. Koshinski Asset Management Inc. bought a new stake in shares of Innoviz Technologies during the 4th quarter valued at about $169,000. Finally, Polar Asset Management Partners Inc. grew its stake in shares of Innoviz Technologies by 29.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock valued at $2,665,000 after acquiring an additional 735,300 shares during the period. 63.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on INVZ shares. The Goldman Sachs Group cut their price objective on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Cantor Fitzgerald downgraded Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. Rosenblatt Securities upgraded Innoviz Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, Westpark Capital assumed coverage on Innoviz Technologies in a research note on Wednesday, November 27th. They issued a “buy” rating and a $1.30 price target for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Innoviz Technologies has an average rating of “Moderate Buy” and an average price target of $3.01.

Innoviz Technologies Price Performance

Shares of INVZ opened at $1.60 on Friday. The business’s 50 day simple moving average is $1.43 and its 200-day simple moving average is $0.96. Innoviz Technologies Ltd. has a 1 year low of $0.45 and a 1 year high of $3.14. The stock has a market capitalization of $217.89 million, a price-to-earnings ratio of -2.50 and a beta of 0.72.

Innoviz Technologies Profile

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.