Informatica (NYSE:INFA) Stock Price Up 6.7% – Here’s Why

Shares of Informatica Inc. (NYSE:INFA) rose 6.7% during mid-day trading on Friday . The company traded as high as $21.07 and last traded at $20.49. Approximately 3,817,482 shares traded hands during mid-day trading, an increase of 76% from the average daily volume of 2,165,234 shares. The stock had previously closed at $19.20.

Wall Street Analyst Weigh In

INFA has been the subject of a number of research reports. Truist Financial reissued a “buy” rating and issued a $24.00 price target (down from $34.00) on shares of Informatica in a research note on Friday, February 14th. Wedbush downgraded shares of Informatica to a “neutral” rating in a research note on Friday, February 14th. Baird R W downgraded shares of Informatica from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 14th. Scotiabank increased their price target on shares of Informatica from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 8th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $19.00 price target (down from $35.00) on shares of Informatica in a research note on Friday, February 14th. Thirteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.69.

Informatica Trading Up 17.7%

The stock’s fifty day simple moving average is $18.31 and its two-hundred day simple moving average is $22.13. 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 firm has a market cap of $6.84 billion, a PE ratio of 753.72, a PEG ratio of 4.44 and a beta of 1.04.

Informatica (NYSE:INFA) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. Informatica had a net margin of 0.61% and a return on equity of 5.76%. The firm had revenue of $403.90 million for the quarter, compared to analysts’ expectations of $392.14 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Informatica Inc. will post 0.63 EPS for the current fiscal year.

Insider Activity

In other news, EVP John Arthur Schweitzer sold 11,503 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $18.05, for a total transaction of $207,629.15. Following the sale, the executive vice president now owns 416,410 shares in the company, valued at $7,516,200.50. This represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 34,735 shares of company stock worth $643,827 over the last 90 days. 48.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INFA. Wells Fargo & Company MN boosted its holdings in Informatica by 15.0% in the fourth quarter. Wells Fargo & Company MN now owns 81,033 shares of the technology company’s stock worth $2,101,000 after purchasing an additional 10,553 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Informatica by 21.0% in the fourth quarter. Victory Capital Management Inc. now owns 20,603 shares of the technology company’s stock worth $534,000 after purchasing an additional 3,575 shares during the last quarter. Norges Bank purchased a new stake in Informatica in the fourth quarter worth approximately $25,265,000. KBC Group NV boosted its holdings in Informatica by 69.4% in the fourth quarter. KBC Group NV now owns 3,235 shares of the technology company’s stock worth $84,000 after purchasing an additional 1,325 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Informatica by 24.4% in the fourth quarter. Geode Capital Management LLC now owns 1,508,989 shares of the technology company’s stock worth $39,140,000 after purchasing an additional 295,801 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

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.