Wellington Management Group LLP boosted its stake in shares of Informatica Inc. (NYSE:INFA - Free Report) by 29.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,564,047 shares of the technology company's stock after acquiring an additional 2,662,379 shares during the period. Wellington Management Group LLP owned 3.82% of Informatica worth $292,339,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Informatica by 25.1% in the third quarter. State Street Corp now owns 1,051,013 shares of the technology company's stock worth $26,570,000 after buying an additional 210,843 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Informatica in the 3rd quarter worth approximately $375,000. Quarry LP purchased a new stake in shares of Informatica during the 3rd quarter worth approximately $38,000. Holocene Advisors LP bought a new position in shares of Informatica during the 3rd quarter valued at approximately $2,533,000. Finally, Centiva Capital LP purchased a new position in shares of Informatica in the third quarter valued at $232,000. 98.45% of the stock is currently owned by institutional investors.
Insider Activity at Informatica
In other Informatica news, CAO Mark Pellowski sold 10,026 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 142,671 shares of the company's stock, valued at approximately $3,817,875.96. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Arthur Schweitzer sold 8,501 shares of the firm'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 in the company, valued at $10,535,037.36. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 48.10% of the stock is currently owned by corporate insiders.
Informatica Stock Up 0.1 %
NYSE INFA traded up $0.03 during trading on Friday, reaching $27.13. 2,514,338 shares of the company's stock traded hands, compared to its average volume of 2,351,685. Informatica Inc. has a 12-month low of $22.08 and a 12-month high of $39.80. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.17 and a quick ratio of 2.17. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 129.20, a price-to-earnings-growth ratio of 5.83 and a beta of 1.00. The company's 50 day simple moving average is $26.08 and its two-hundred day simple moving average is $26.46.
Informatica declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 30th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Informatica from $38.00 to $34.00 and set an "overweight" rating for the company in a report on Friday, October 25th. UBS Group raised their price objective on Informatica from $27.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Guggenheim reiterated a "buy" rating on shares of Informatica in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.20.
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Informatica Company Profile
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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.
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