National Bank of Canada FI Boosts Stock Holdings in Informatica Inc. (NYSE:INFA)

National Bank of Canada FI boosted its holdings in Informatica Inc. (NYSE:INFA) by 3,288.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,694 shares of the technology company’s stock after acquiring an additional 1,644 shares during the quarter. National Bank of Canada FI’s holdings in Informatica were worth $43,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. First Horizon Advisors Inc. purchased a new position in shares of Informatica during the second quarter valued at approximately $32,000. Quarry LP bought a new position in shares of Informatica during the 3rd quarter valued at $38,000. Summit Securities Group LLC purchased a new position in shares of Informatica in the 2nd quarter worth $46,000. Amalgamated Bank increased its position in Informatica by 42.1% during the second 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 last quarter. Finally, New York State Teachers Retirement System purchased a new stake in Informatica during the third quarter valued at $149,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Informatica

In related news, EVP John Arthur Schweitzer sold 8,501 shares of the firm’s stock in a transaction on 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 directly owns 393,686 shares in the company, valued at $10,535,037.36. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark Pellowski sold 10,026 shares of the 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 sale, the chief accounting officer now directly owns 142,671 shares in the company, valued at approximately $3,817,875.96. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 48.10% of the stock is owned by company insiders.

Informatica Stock Performance

NYSE:INFA opened at $27.04 on Wednesday. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 129.29, a PEG ratio of 5.68 and a beta of 1.00. Informatica Inc. has a 1 year low of $22.08 and a 1 year high of $39.80. The stock’s 50 day simple moving average is $26.31 and its two-hundred day simple moving average is $26.31. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.17 and a quick ratio of 2.17.

Informatica announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Guggenheim restated a “buy” rating on shares of Informatica in a research note on Friday, October 18th. JPMorgan Chase & Co. reduced their target price 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 boosted their price objective on shares of Informatica from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Truist Financial began coverage on Informatica in a research report on Thursday, December 12th. They set a “buy” rating and a $34.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Informatica has a consensus rating of “Moderate Buy” and an average price target of $33.27.

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.