Jacobs Levy Equity Management Inc. Sells 106,690 Shares of Informatica Inc. (NYSE:INFA)

Jacobs Levy Equity Management Inc. reduced its position in shares of Informatica Inc. (NYSE:INFA - Free Report) by 80.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,429 shares of the technology company's stock after selling 106,690 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Informatica were worth $668,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in INFA. Charles Schwab Investment Management Inc. lifted its holdings in Informatica by 62.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 615,958 shares of the technology company's stock valued at $15,571,000 after purchasing an additional 237,876 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new position in shares of Informatica during the 3rd quarter valued at approximately $2,781,000. Bank of Montreal Can purchased a new position in shares of Informatica during the 2nd quarter valued at approximately $2,442,000. Allspring Global Investments Holdings LLC lifted its stake in Informatica by 11.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,411,822 shares of the technology company's stock valued at $43,597,000 after buying an additional 141,163 shares during the last quarter. Finally, Fred Alger Management LLC raised 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 worth $24,521,000 after acquiring an additional 307,803 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Informatica Trading Up 4.3 %

Shares of INFA traded up $1.10 during trading hours on Tuesday, hitting $26.67. The company had a trading volume of 1,348,806 shares, compared to its average volume of 1,761,960. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.75. The firm has a market cap of $8.14 billion, a P/E ratio of 121.79, a P/E/G ratio of 5.77 and a beta of 1.00. Informatica Inc. has a 52-week low of $22.08 and a 52-week high of $39.80. The stock's 50 day moving average price is $26.08 and its 200 day moving average price is $26.40.

Informatica declared that its Board of Directors has approved a share buyback program on Wednesday, October 30th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

INFA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Informatica from $38.00 to $34.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Guggenheim restated a "buy" rating on shares of Informatica in a report on Friday, October 18th. Finally, UBS Group raised their price target on Informatica from $27.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.20.

Insider Buying and Selling at Informatica

In related news, EVP John Arthur Schweitzer sold 8,501 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 393,686 shares of the company's stock, valued at approximately $10,535,037.36. This represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark Pellowski sold 10,026 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total transaction of $268,295.76. Following the transaction, the chief accounting officer now directly owns 142,671 shares of the company's stock, 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. Company insiders own 48.10% of the company's stock.

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.