Innoviz Technologies Ltd. (NASDAQ:INVZ) Shares Purchased by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. grew its stake in Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,805,731 shares of the company's stock after buying an additional 810,731 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned approximately 5.00% of Innoviz Technologies worth $11,434,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Polar Asset Management Partners Inc. grew its stake in shares of Innoviz Technologies by 29.6% during the third quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company's stock valued at $2,665,000 after buying an additional 735,300 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Innoviz Technologies in the 4th quarter worth approximately $25,000. Koshinski Asset Management Inc. bought a new stake in Innoviz Technologies in the fourth quarter valued at approximately $169,000. Finally, Traynor Capital Management Inc. purchased a new stake in Innoviz Technologies in the fourth quarter worth $25,000. Institutional investors own 63.26% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on INVZ shares. The Goldman Sachs Group reduced their price objective on shares of Innoviz Technologies from $1.00 to $0.75 and set a "neutral" rating for the company in a research note on Thursday, November 14th. Cantor Fitzgerald lowered shares of Innoviz Technologies from an "overweight" rating to a "neutral" rating in a report on Thursday, November 14th. Rosenblatt Securities upgraded shares of Innoviz Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Finally, Westpark Capital assumed coverage on shares of Innoviz Technologies in a research report on Wednesday, November 27th. They issued a "buy" rating and a $1.30 target price on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Innoviz Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $3.01.

Innoviz Technologies Stock Down 25.5 %

Shares of INVZ traded down $0.41 during trading on Monday, reaching $1.19. 30,572,279 shares of the company traded hands, compared to its average volume of 11,654,521. The stock has a market cap of $161.37 million, a PE ratio of -1.85 and a beta of 0.72. Innoviz Technologies Ltd. has a twelve month low of $0.45 and a twelve month high of $3.14. The stock has a 50-day simple moving average of $1.45 and a 200-day simple moving average of $0.96.

Innoviz Technologies Profile

Innoviz Technologies Ltd. manufactures and sells automotive grade LiDAR sensors and perception software to enable safe autonomous driving at a mass scale. The company offers InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxis, shuttles, trucks, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.