The Manufacturers Life Insurance Company Sells 1,180 Shares of Informatica Inc. (NYSE:INFA)

The Manufacturers Life Insurance Company lowered its holdings in shares of Informatica Inc. (NYSE:INFA) by 5.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,644 shares of the technology company’s stock after selling 1,180 shares during the period. The Manufacturers Life Insurance Company’s holdings in Informatica were worth $522,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Informatica by 11.4% during 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 purchasing an additional 810 shares during the last quarter. Verdence Capital Advisors LLC increased its position in shares of Informatica by 10.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 10,387 shares of the technology company’s stock worth $263,000 after purchasing an additional 993 shares during the last quarter. First Horizon Advisors Inc. acquired a new position in shares of Informatica during the 2nd quarter worth about $32,000. Amalgamated Bank raised its stake in 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 acquiring an additional 1,037 shares during the period. Finally, Summit Securities Group LLC bought a new position in Informatica in the 2nd quarter valued at about $46,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Transactions at Informatica

In related news, CAO Mark Pellowski sold 10,026 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 $268,295.76. Following the completion of the sale, the chief accounting officer now directly owns 142,671 shares in the company, valued at approximately $3,817,875.96. This trade represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Arthur Schweitzer sold 8,501 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 directly owns 393,686 shares in the company, valued at approximately $10,535,037.36. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 48.10% of the company’s stock.

Informatica Trading Down 0.9 %

Shares of NYSE INFA opened at $26.82 on Friday. Informatica Inc. has a 1-year low of $22.08 and a 1-year high of $39.80. The business has a fifty day moving average price of $26.27 and a 200 day moving average price of $26.34. 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 stock has a market capitalization of $8.19 billion, a P/E ratio of 127.71, a price-to-earnings-growth ratio of 5.68 and a beta of 1.00.

Informatica announced that its board has approved a share repurchase program on Wednesday, October 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire 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 shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on INFA shares. Truist Financial initiated coverage on Informatica in a research report on Thursday. They issued a “buy” rating and a $34.00 price target on the stock. Guggenheim reaffirmed a “buy” rating on shares of Informatica in a research report on Friday, October 18th. UBS Group upped their price target on Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their target price on Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.27.

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.