110,000 Shares in Informatica Inc. (NYSE:INFA) Bought by Summit Partners Public Asset Management LLC

Summit Partners Public Asset Management LLC bought a new position in shares of Informatica Inc. (NYSE:INFA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 110,000 shares of the technology company’s stock, valued at approximately $2,781,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of INFA. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Informatica by 20.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,907 shares of the technology company’s stock valued at $427,000 after acquiring an additional 2,867 shares in the last quarter. Tybourne Capital Management HK Ltd. acquired a new position in Informatica in the third quarter valued at $1,484,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Informatica by 3,143.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 21,275 shares of the technology company’s stock valued at $538,000 after acquiring an additional 20,619 shares in the last quarter. FMR LLC boosted its stake in Informatica by 555.6% in the third quarter. FMR LLC now owns 8,182 shares of the technology company’s stock valued at $207,000 after acquiring an additional 6,934 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Informatica in the third quarter valued at $232,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Buying and Selling

In other Informatica news, CAO Mark Pellowski sold 10,026 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 142,671 shares of the company’s stock, valued at $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 SEC, which is accessible through this hyperlink. Also, EVP John Arthur Schweitzer sold 8,501 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total transaction of $227,486.76. Following the transaction, the executive vice president now directly owns 393,686 shares in the company, valued at approximately $10,535,037.36. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. 48.10% of the stock is owned by company insiders.

Informatica Trading Down 0.8 %

Shares of INFA opened at $26.39 on Friday. The firm’s 50-day moving average is $25.89 and its two-hundred day moving average is $26.61. The firm has a market capitalization of $8.06 billion, a P/E ratio of 125.67, a PEG ratio of 5.62 and a beta of 1.04. Informatica Inc. has a twelve month low of $22.08 and a twelve month high of $39.80. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.75.

Informatica declared that its Board of Directors has approved a share buyback plan on Wednesday, October 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

INFA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Informatica from $39.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, August 1st. UBS Group upped their target price on shares of Informatica from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. 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. Finally, Guggenheim reaffirmed a “buy” rating on shares of Informatica in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.20.

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.