Renaissance Technologies LLC Takes $5.40 Million Position in Informatica Inc. (NYSE:INFA)

Renaissance Technologies LLC purchased a new stake in shares of Informatica Inc. (NYSE:INFA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 208,300 shares of the technology company’s stock, valued at approximately $5,401,000. Renaissance Technologies LLC owned approximately 0.07% of Informatica as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in INFA. FMR LLC increased its stake in Informatica by 555.6% during the third quarter. FMR LLC now owns 8,182 shares of the technology company’s stock worth $207,000 after acquiring an additional 6,934 shares during the last quarter. State Street Corp increased its position in shares of Informatica by 25.1% during the 3rd quarter. State Street Corp now owns 1,051,013 shares of the technology company’s stock valued at $26,570,000 after purchasing an additional 210,843 shares during the last quarter. Geode Capital Management LLC raised its holdings in Informatica by 34.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,213,188 shares of the technology company’s stock valued at $30,677,000 after buying an additional 311,003 shares during the period. Oddo BHF Asset Management Sas bought a new stake in Informatica in the third quarter worth $1,394,000. Finally, JPMorgan Chase & Co. increased its position in Informatica by 826.8% during the third quarter. JPMorgan Chase & Co. now owns 1,484,147 shares of the technology company’s stock valued at $37,519,000 after acquiring an additional 1,324,006 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP John Arthur Schweitzer sold 11,503 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $18.18, for a total transaction of $209,124.54. Following the completion of the sale, the executive vice president now owns 328,799 shares in the company, valued at approximately $5,977,565.82. This represents a 3.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 48.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on INFA. Robert W. Baird reiterated a “neutral” rating and set a $19.00 price target (down from $35.00) on shares of Informatica in a report on Friday, February 14th. Guggenheim reiterated a “buy” rating and issued a $37.00 price target on shares of Informatica in a report on Friday, January 31st. Cantor Fitzgerald began coverage on Informatica in a report on Friday, January 17th. They set a “neutral” rating and a $29.00 price objective for the company. DA Davidson reduced their target price on Informatica from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Informatica from a “buy” rating to a “hold” rating and set a $21.00 target price for the company. in a research note on Friday, February 14th. Thirteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.15.

Informatica Stock Performance

Shares of NYSE:INFA opened at $17.53 on Monday. The firm has a 50 day moving average of $18.52 and a 200 day moving average of $23.39. 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 company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 584.53, a price-to-earnings-growth ratio of 4.44 and a beta of 1.06. Informatica Inc. has a 52 week low of $15.65 and a 52 week high of $33.68.

Informatica (NYSE:INFA) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.17). Informatica had a return on equity of 5.76% and a net margin of 0.61%. The company had revenue of $428.31 million for the quarter, compared to analysts’ expectations of $457.55 million. On average, sell-side analysts predict that Informatica Inc. will post 0.63 earnings per share for the current fiscal year.

Informatica 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.