34,763 Shares in Informatica Inc. (NYSE:INFA) Bought by Quest Partners LLC

Quest Partners LLC purchased a new stake in Informatica Inc. (NYSE:INFA - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,763 shares of the technology company's stock, valued at approximately $879,000.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. acquired a new position in shares of Informatica during the 2nd quarter worth $32,000. Summit Securities Group LLC bought a new position in shares of Informatica in the second quarter worth about $46,000. Amalgamated Bank boosted its stake in shares of Informatica by 42.1% in the 2nd quarter. Amalgamated Bank now owns 3,498 shares of the technology company's stock valued at $108,000 after purchasing an additional 1,037 shares in the last quarter. New York State Teachers Retirement System acquired a new position in Informatica during the 3rd quarter worth approximately $149,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Informatica by 11.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,935 shares of the technology company's stock valued at $201,000 after buying an additional 810 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INFA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price objective on Informatica from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, August 1st. The Goldman Sachs Group dropped their price objective on shares of Informatica from $44.00 to $38.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Citigroup dropped their price target on shares of Informatica from $35.00 to $28.00 and set a "neutral" rating for the company in a research note on Tuesday, July 30th. Scotiabank reduced their price objective on shares of Informatica from $33.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 31st. Finally, UBS Group raised their target price on Informatica from $27.00 to $30.00 and gave the stock a "neutral" rating in a research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.20.

Informatica Stock Up 2.4 %

Informatica stock traded up $0.62 during mid-day trading on Thursday, reaching $26.48. The stock had a trading volume of 1,343,992 shares, compared to its average volume of 1,745,743. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.17 and a current ratio of 2.17. The stock's 50-day simple moving average is $25.77 and its 200-day simple moving average is $26.73. 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 capitalization of $8.09 billion, a PE ratio of 126.10, a price-to-earnings-growth ratio of 5.48 and a beta of 1.04.

Informatica declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Informatica

In other news, 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. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Arthur Schweitzer sold 8,501 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 $227,486.76. Following 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 2.11 % decrease in their position. The disclosure for this sale can be found here. 48.10% of the stock is owned by insiders.

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.