Short Interest in Informatica Inc. (NYSE:INFA) Expands By 6.3%

Informatica Inc. (NYSE:INFA) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 5,430,000 shares, an increase of 6.3% from the October 15th total of 5,110,000 shares. Currently, 4.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,740,000 shares, the days-to-cover ratio is currently 3.1 days.

Informatica Stock Performance

INFA stock traded up $0.13 on Tuesday, reaching $25.63. The company’s stock had a trading volume of 484,671 shares, compared to its average volume of 1,746,103. The firm has a fifty day moving average of $25.72 and a two-hundred day moving average of $26.80. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.17 and a quick ratio of 2.17. The company has a market capitalization of $7.83 billion, a P/E ratio of 121.39, a price-to-earnings-growth ratio of 5.28 and a beta of 1.04. Informatica has a 52 week low of $22.08 and a 52 week high of $39.80.

Informatica declared that its board has initiated a stock buyback program on Wednesday, October 30th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the technology company to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on INFA shares. Citigroup reduced their price objective on shares of Informatica from $35.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Guggenheim reiterated a “buy” rating on shares of Informatica in a research note on Friday, October 18th. Scotiabank reduced their price objective on shares of Informatica from $33.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Informatica from $39.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, UBS Group raised their target price on shares of Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.20.

Insiders Place Their Bets

In other news, CAO Mark Pellowski sold 10,026 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.76, for a total value of $268,295.76. Following the completion of the transaction, the chief accounting officer now directly owns 142,671 shares in the company, valued at approximately $3,817,875.96. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Arthur Schweitzer sold 8,501 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.76, for a total transaction of $227,486.76. Following the completion of the transaction, the executive vice president now owns 393,686 shares of the company’s stock, valued at $10,535,037.36. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 48.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky bought a new position in shares of Informatica in the third quarter worth $1,613,000. Geode Capital Management LLC increased its holdings in shares of Informatica by 34.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,213,188 shares of the technology company’s stock valued at $30,677,000 after acquiring an additional 311,003 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Informatica in the third quarter worth about $396,000. XTX Topco Ltd bought a new stake in Informatica in the 3rd quarter valued at $325,000. Finally, National Bank of Canada FI boosted its holdings in Informatica by 3,288.0% in the 3rd quarter. National Bank of Canada FI now owns 1,694 shares of the technology company’s stock valued at $43,000 after purchasing an additional 1,644 shares during the period. Institutional investors own 98.45% of the company’s stock.

About Informatica

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.