131,592 Shares in Informatica Inc. (NYSE:INFA) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new position in Informatica Inc. (NYSE:INFA - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 131,592 shares of the technology company's stock, valued at approximately $3,327,000.

Several other large investors have also recently modified their holdings of INFA. Summit Partners Public Asset Management LLC purchased a new stake in shares of Informatica during the third quarter valued at $2,781,000. Bank of Montreal Can purchased a new position in shares of Informatica in the second quarter worth about $2,442,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Informatica by 11.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,411,822 shares of the technology company's stock worth $43,597,000 after purchasing an additional 141,163 shares during the period. Fred Alger Management LLC boosted its position in Informatica by 63.3% in the second 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 last quarter. Finally, California State Teachers Retirement System increased its holdings in Informatica by 23.7% in the 1st quarter. California State Teachers Retirement System now owns 49,019 shares of the technology company's stock worth $1,716,000 after buying an additional 9,406 shares during the period. Institutional investors own 98.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Informatica from $38.00 to $34.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Guggenheim reissued a "buy" rating on shares of Informatica in a report on Friday, October 18th. Finally, UBS Group upped their price objective on Informatica from $27.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Informatica has an average rating of "Moderate Buy" and an average target price of $33.20.

Insider Activity at Informatica

In other Informatica news, EVP John Arthur Schweitzer sold 8,501 shares of Informatica 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 $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 trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark Pellowski sold 10,026 shares of the business'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 $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. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 48.10% of the stock is currently owned by corporate insiders.

Informatica Stock Up 1.5 %

Shares of INFA stock traded up $0.40 on Tuesday, reaching $26.83. 1,140,860 shares of the stock were exchanged, compared to its average volume of 1,744,056. Informatica Inc. has a twelve month low of $22.08 and a twelve month high of $39.80. 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 market capitalization of $8.19 billion, a price-to-earnings ratio of 125.96, a PEG ratio of 5.64 and a beta of 1.00. The business's 50 day moving average price is $25.93 and its 200 day moving average price is $26.52.

Informatica announced that its board has initiated a stock buyback program on Wednesday, October 30th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

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.