Commonwealth Equity Services LLC Sells 60,110 Shares of Innoviz Technologies Ltd. (NASDAQ:INVZ)

Commonwealth Equity Services LLC lessened its stake in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ) by 39.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,651 shares of the company’s stock after selling 60,110 shares during the quarter. Commonwealth Equity Services LLC owned about 0.07% of Innoviz Technologies worth $157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INVZ. Migdal Insurance & Financial Holdings Ltd. grew its stake in Innoviz Technologies by 13.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company’s stock valued at $11,434,000 after acquiring an additional 810,731 shares in the last quarter. Summit X LLC boosted its holdings in Innoviz Technologies by 218.3% in the 4th quarter. Summit X LLC now owns 275,417 shares of the company’s stock valued at $463,000 after purchasing an additional 188,876 shares during the period. Koshinski Asset Management Inc. purchased a new position in shares of Innoviz Technologies during the 4th quarter valued at $169,000. SBI Securities Co. Ltd. bought a new position in shares of Innoviz Technologies in the fourth quarter worth $156,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Innoviz Technologies in the fourth quarter worth $87,000. 63.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on INVZ shares. Rosenblatt Securities restated a “buy” rating and set a $4.00 target price on shares of Innoviz Technologies in a research report on Thursday, February 27th. Westpark Capital reissued a “buy” rating and set a $2.22 price objective on shares of Innoviz Technologies in a report on Tuesday, February 25th.

Innoviz Technologies Stock Down 4.1 %

INVZ opened at $0.54 on Friday. The business’s fifty day simple moving average is $0.80 and its 200 day simple moving average is $0.97. Innoviz Technologies Ltd. has a 52 week low of $0.45 and a 52 week high of $3.14. The stock has a market cap of $107.44 million, a PE ratio of -0.84 and a beta of 0.86.

Innoviz Technologies (NASDAQ:INVZ) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $6.03 million for the quarter, compared to analyst estimates of $5.86 million. Innoviz Technologies had a negative return on equity of 87.40% and a negative net margin of 321.53%. As a group, equities analysts anticipate that Innoviz Technologies Ltd. will post -0.6 earnings per share for the current year.

About Innoviz Technologies

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.