PNC Financial Services Group Inc. bought a new stake in Innoviz Technologies Ltd. (NASDAQ:INVZ – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,950 shares of the company’s stock, valued at approximately $255,000.
Other large investors have also modified their holdings of the company. Schonfeld Strategic Advisors LLC raised its stake in shares of Innoviz Technologies by 154.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 624,600 shares of the company’s stock valued at $1,218,000 after purchasing an additional 379,200 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Innoviz Technologies by 38.1% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,795,000 shares of the company’s stock worth $14,661,000 after acquiring an additional 1,600,000 shares in the last quarter. Jump Financial LLC acquired a new position in Innoviz Technologies during the fourth quarter worth $106,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Innoviz Technologies by 22.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,427,590 shares of the company’s stock worth $3,498,000 after acquiring an additional 260,373 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Innoviz Technologies by 57.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 45,713 shares of the company’s stock worth $116,000 after acquiring an additional 16,629 shares in the last quarter. 63.26% of the stock is currently owned by institutional investors and hedge funds.
Innoviz Technologies Stock Performance
Shares of INVZ stock opened at $0.92 on Tuesday. The stock’s fifty day moving average is $1.07 and its 200-day moving average is $1.49. The stock has a market capitalization of $124.82 million, a PE ratio of -1.19 and a beta of 1.01. Innoviz Technologies Ltd. has a 52 week low of $0.83 and a 52 week high of $4.39.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on INVZ. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $7.00 price objective (down from $13.00) on shares of Innoviz Technologies in a research note on Tuesday, March 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.00 price objective on shares of Innoviz Technologies in a research note on Monday.
Read Our Latest Analysis on INVZ
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.
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