Informatica Inc. (NYSE:INFA) Stock Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Informatica Inc. (NYSE:INFA - Free Report) by 826.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,484,147 shares of the technology company's stock after buying an additional 1,324,006 shares during the period. JPMorgan Chase & Co. owned approximately 0.49% of Informatica worth $37,519,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in shares of Informatica by 62.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 615,958 shares of the technology company's stock worth $15,571,000 after buying an additional 237,876 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new stake in shares of Informatica in the 3rd quarter worth about $2,781,000. Bank of Montreal Can acquired a new stake in shares of Informatica in the 2nd quarter valued at about $2,442,000. Wellington Management Group LLP raised its stake in shares of Informatica by 29.9% in the 3rd quarter. Wellington Management Group LLP now owns 11,564,047 shares of the technology company's stock valued at $292,339,000 after purchasing an additional 2,662,379 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Informatica by 34.5% in the third quarter. Geode Capital Management LLC now owns 1,213,188 shares of the technology company's stock worth $30,677,000 after purchasing an additional 311,003 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Informatica Stock Performance

Informatica stock traded down $0.22 during midday trading on Monday, reaching $26.28. 1,537,868 shares of the stock traded hands, compared to its average volume of 1,371,889. The firm has a fifty day moving average price of $26.28 and a two-hundred day moving average price of $26.07. Informatica Inc. has a fifty-two week low of $22.08 and a fifty-two week high of $39.80. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 125.15, a PEG ratio of 5.71 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 of Directors has authorized a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $400.00 million in 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 generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

INFA has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on Informatica from $38.00 to $34.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Guggenheim restated a "buy" rating on shares of Informatica in a research note on Friday, October 18th. UBS Group boosted 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, Truist Financial initiated coverage on shares of Informatica in a report on Thursday, December 12th. They set a "buy" rating and a $34.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.27.

Insider Transactions at Informatica

In other Informatica news, CAO Mark Pellowski sold 10,026 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 142,671 shares in the company, valued at approximately $3,817,875.96. The trade was a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Arthur Schweitzer sold 10,734 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $27.05, for a total value of $290,354.70. Following the completion of the transaction, the executive vice president now directly owns 353,778 shares of the company's stock, valued at approximately $9,569,694.90. The trade was a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,296 shares of company stock worth $1,057,684. Company insiders own 48.10% 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.