Informatica (NYSE:INFA) Shares Gap Up – Here’s Why

Informatica Inc. (NYSE:INFA) shares gapped up prior to trading on Thursday . The stock had previously closed at $26.70, but opened at $27.40. Informatica shares last traded at $27.38, with a volume of 285,184 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INFA. JPMorgan Chase & Co. lowered their target price on Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Truist Financial started coverage on shares of Informatica in a research note on Thursday. They issued a “buy” rating and a $34.00 price objective on the stock. UBS Group upped their target price on shares of Informatica from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Guggenheim restated a “buy” rating on shares of Informatica in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and eight have assigned 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 Stock Down 0.9 %

The firm has a fifty day moving average price of $26.27 and a 200 day moving average price of $26.36. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 127.72, a P/E/G ratio of 5.68 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.

Informatica announced that its board has approved a stock buyback plan on Wednesday, October 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the technology company to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Informatica

In related news, EVP John Arthur Schweitzer sold 8,501 shares of Informatica 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 of the company’s stock, valued at $10,535,037.36. The trade was a 2.11 % decrease in their ownership of the stock. 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 stock in a transaction dated 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 $3,817,875.96. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 48.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INFA. First Horizon Advisors Inc. bought a new position in Informatica in the second quarter valued at approximately $32,000. Quarry LP bought a new stake in Informatica in the 3rd quarter valued at $38,000. National Bank of Canada FI boosted its stake 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 worth $43,000 after purchasing an additional 1,644 shares during the period. Summit Securities Group LLC acquired a new position in Informatica in the 2nd quarter worth $46,000. Finally, Amalgamated Bank increased its holdings in Informatica by 42.1% during the 2nd quarter. Amalgamated Bank now owns 3,498 shares of the technology company’s stock worth $108,000 after purchasing an additional 1,037 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.