Geode Capital Management LLC Has $30.68 Million Position in Informatica Inc. (NYSE:INFA)

Geode Capital Management LLC boosted its holdings in shares of Informatica Inc. (NYSE:INFA) by 34.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,213,188 shares of the technology company’s stock after acquiring an additional 311,003 shares during the period. Geode Capital Management LLC’s holdings in Informatica were worth $30,677,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Informatica by 62.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 615,958 shares of the technology company’s stock worth $15,571,000 after purchasing an additional 237,876 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new position in Informatica in the third quarter valued at about $2,781,000. Bank of Montreal Can bought a new position in Informatica during the second quarter worth about $2,442,000. Wellington Management Group LLP grew its position in shares of Informatica by 29.9% during the 3rd quarter. Wellington Management Group LLP now owns 11,564,047 shares of the technology company’s stock worth $292,339,000 after buying an additional 2,662,379 shares during the period. Finally, Fred Alger Management LLC increased its stake in shares of Informatica by 63.3% in the 2nd quarter. Fred Alger Management LLC now owns 794,084 shares of the technology company’s stock valued at $24,521,000 after acquiring an additional 307,803 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Informatica Price Performance

Shares of INFA opened at $26.98 on Friday. The company has a 50 day moving average of $26.36 and a 200-day moving average of $26.23. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $8.24 billion, a P/E ratio of 128.48, a P/E/G ratio of 5.68 and a beta of 1.00. Informatica Inc. has a twelve month low of $22.08 and a twelve month high of $39.80.

Informatica declared that its board has authorized a stock repurchase program on Wednesday, October 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on INFA shares. Truist Financial assumed coverage on shares of Informatica in a research note on Thursday, December 12th. They set a “buy” rating and a $34.00 price objective on the stock. UBS Group raised their price objective on Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Guggenheim reissued a “buy” rating on shares of Informatica in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. dropped their price target 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.27.

Insider Activity at Informatica

In related news, EVP John Arthur Schweitzer sold 10,734 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $27.05, for a total value of $290,354.70. Following the completion of the transaction, the executive vice president now directly owns 353,778 shares of the company’s stock, valued at approximately $9,569,694.90. This trade represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark Pellowski sold 10,035 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $27.06, for a total transaction of $271,547.10. Following the transaction, the chief accounting officer now owns 138,477 shares in the company, valued at approximately $3,747,187.62. The trade was a 6.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,296 shares of company stock valued at $1,057,684. Corporate insiders own 48.10% of the company’s stock.

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.