Informatica (NYSE:INFA) Sees Unusually-High Trading Volume - Here's What Happened

Shares of Informatica Inc. (NYSE:INFA - Get Free Report) saw an uptick in trading volume on Monday . 3,964,621 shares traded hands during mid-day trading, an increase of 137% from the previous session's volume of 1,675,516 shares.The stock last traded at $25.89 and had previously closed at $26.21.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INFA. Guggenheim reiterated a "buy" rating on shares of Informatica in a report on Friday, October 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 target price on shares of Informatica in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft cut their target price on Informatica from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, August 1st. Scotiabank cut their target price on Informatica from $33.00 to $27.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 31st. Finally, Wells Fargo & Company cut their target price on Informatica from $40.00 to $32.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Informatica has an average rating of "Moderate Buy" and a consensus price target of $32.45.

Informatica Trading Down 2.3 %

The firm has a market capitalization of $7.76 billion, a P/E ratio of 121.95, a PEG ratio of 5.81 and a beta of 1.04. The firm has a 50 day simple moving average of $25.59 and a two-hundred day simple moving average of $27.21. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.03 and a current ratio of 2.03.

Informatica announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the technology company to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, CAO Mark Pellowski sold 10,026 shares of Informatica stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total value of $268,295.76. Following the completion of the sale, the chief accounting officer now owns 142,671 shares of the company's stock, valued at approximately $3,817,875.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP John Arthur Schweitzer sold 8,501 shares of Informatica stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark Pellowski sold 10,026 shares of Informatica 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 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 48.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INFA. First Horizon Advisors Inc. purchased a new position in Informatica during the 2nd quarter valued at about $32,000. ORG Partners LLC purchased a new position in Informatica during the 1st quarter valued at about $43,000. Summit Securities Group LLC purchased a new position in Informatica during the 2nd quarter valued at about $46,000. Amalgamated Bank grew its holdings in Informatica by 42.1% during the 2nd quarter. Amalgamated Bank now owns 3,498 shares of the technology company's stock valued at $108,000 after buying an additional 1,037 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in Informatica during the 3rd quarter valued at about $149,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Informatica Company 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.