Washington Harbour Partners LP Sells 46,700 Shares of Informatica Inc. (NYSE:INFA)

Washington Harbour Partners LP decreased its holdings in shares of Informatica Inc. (NYSE:INFA) by 76.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,400 shares of the technology company’s stock after selling 46,700 shares during the quarter. Informatica makes up about 0.7% of Washington Harbour Partners LP’s investment portfolio, making the stock its 23rd biggest holding. Washington Harbour Partners LP’s holdings in Informatica were worth $364,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in Informatica by 398.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,042,961 shares of the technology company’s stock valued at $178,046,000 after purchasing an additional 5,631,139 shares during the last quarter. 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 last quarter. State Street Corp increased its holdings in Informatica by 25.1% during the third quarter. State Street Corp now owns 1,051,013 shares of the technology company’s stock worth $26,570,000 after buying an additional 210,843 shares during the last quarter. Fred Alger Management LLC raised its position in Informatica by 63.3% during the second quarter. Fred Alger Management LLC now owns 794,084 shares of the technology company’s stock worth $24,521,000 after acquiring an additional 307,803 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Informatica by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 682,648 shares of the technology company’s stock valued at $21,081,000 after acquiring an additional 42,432 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INFA shares. JPMorgan Chase & Co. lowered their price objective on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. UBS Group upped their price objective on Informatica from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Guggenheim reissued a “buy” rating on shares of Informatica in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.20.

Insider Activity

In other Informatica news, CAO Mark Pellowski sold 10,026 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total value of $268,295.76. Following the transaction, the chief accounting officer now directly owns 142,671 shares of the company’s stock, valued at approximately $3,817,875.96. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Arthur Schweitzer sold 8,501 shares of the 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 48.10% of the stock is owned by corporate insiders.

Informatica Trading Down 1.0 %

INFA opened at $27.13 on Friday. The company has a market cap of $8.28 billion, a P/E ratio of 129.17, a PEG ratio of 5.73 and a beta of 1.00. 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’s 50 day moving average is $26.04 and its 200-day moving average is $26.51. Informatica Inc. has a 1-year low of $22.08 and a 1-year high of $39.80.

Informatica declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Informatica 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.