Innoviz Technologies Ltd. (NASDAQ:INVZ) Shares Sold by State Street Corp

State Street Corp reduced its holdings in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ) by 3.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 822,194 shares of the company’s stock after selling 31,339 shares during the quarter. State Street Corp’s holdings in Innoviz Technologies were worth $681,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ground Swell Capital LLC purchased a new stake in shares of Innoviz Technologies in the 2nd quarter valued at $26,000. Choreo LLC acquired a new position in shares of Innoviz Technologies during the 2nd quarter worth approximately $185,000. SkyView Investment Advisors LLC acquired a new stake in shares of Innoviz Technologies in the second quarter valued at about $371,000. Interval Partners LP increased its stake in Innoviz Technologies by 19.6% during the 2nd quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock worth $2,519,000 after buying an additional 444,823 shares in the last quarter. Finally, Polar Asset Management Partners Inc. raised its stake in Innoviz Technologies by 29.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock valued at $2,665,000 after purchasing an additional 735,300 shares during the last quarter. 63.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on INVZ. Westpark Capital assumed coverage on shares of Innoviz Technologies in a research note on Wednesday, November 27th. They set a “buy” rating and a $1.30 price objective for the company. Rosenblatt Securities upgraded Innoviz Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Cantor Fitzgerald downgraded Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group dropped their target price on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.01.

Innoviz Technologies Price Performance

Innoviz Technologies stock opened at $1.74 on Friday. The firm has a 50 day simple moving average of $0.91 and a 200-day simple moving average of $0.82. The stock has a market cap of $236.96 million, a price-to-earnings ratio of -2.72 and a beta of 1.18. Innoviz Technologies Ltd. has a 1-year low of $0.45 and a 1-year high of $2.47.

Innoviz Technologies Company Profile

Innoviz Technologies Ltd. manufactures and sells automotive grade LiDAR sensors and perception software to enable safe autonomous driving at a mass scale. The company offers InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxis, shuttles, trucks, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.