KLP Kapitalforvaltning AS Grows Stock Holdings in Informatica Inc. $INFA

KLP Kapitalforvaltning AS lifted its position in shares of Informatica Inc. (NYSE:INFA) by 22.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,800 shares of the technology company’s stock after buying an additional 4,600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Informatica were worth $604,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Amalgamated Bank lifted its stake in shares of Informatica by 16.9% during the 1st quarter. Amalgamated Bank now owns 4,089 shares of the technology company’s stock valued at $71,000 after buying an additional 591 shares in the last quarter. Arizona State Retirement System increased its holdings in Informatica by 59.6% in the 1st quarter. Arizona State Retirement System now owns 29,983 shares of the technology company’s stock valued at $523,000 after acquiring an additional 11,200 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Informatica by 420.3% in the 1st quarter. Victory Capital Management Inc. now owns 107,198 shares of the technology company’s stock valued at $1,871,000 after acquiring an additional 86,595 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Informatica by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 458,307 shares of the technology company’s stock valued at $7,997,000 after acquiring an additional 21,257 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in Informatica by 83.7% in the 1st quarter. Voya Investment Management LLC now owns 470,932 shares of the technology company’s stock valued at $8,218,000 after acquiring an additional 214,605 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group lifted their price target on shares of Informatica from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Informatica in a report on Wednesday, October 8th. Finally, Guggenheim downgraded shares of Informatica from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Wednesday, August 6th. Sixteen investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $23.67.

Insider Activity

In related news, CAO Francis R. Santiago sold 16,790 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $24.78, for a total transaction of $416,056.20. Following the transaction, the chief accounting officer directly owned 43,851 shares in the company, valued at approximately $1,086,627.78. This represents a 27.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruce R. Chizen sold 246,590 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $24.93, for a total transaction of $6,147,488.70. Following the transaction, the insider owned 368,874 shares in the company, valued at $9,196,028.82. The trade was a 40.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 403,082 shares of company stock valued at $10,034,169. 2.80% of the stock is currently owned by company insiders.

Informatica Stock Performance

Informatica stock opened at $24.82 on Friday. The company’s 50-day moving average price is $24.83 and its 200-day moving average price is $22.84. Informatica Inc. has a twelve month low of $15.65 and a twelve month high of $28.14. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. The company has a market cap of $7.56 billion, a PE ratio of -620.50, a price-to-earnings-growth ratio of 6.69 and a beta of 1.14.

Informatica (NYSE:INFA) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The business had revenue of $407.34 million during the quarter, compared to the consensus estimate of $401.76 million. Informatica had a positive return on equity of 4.64% and a negative net margin of 0.45%.The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. On average, equities research analysts forecast that Informatica Inc. will post 0.63 EPS for the current fiscal year.

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.