Short Interest in Informatica Inc. (NYSE:INFA) Expands By 6.3%

Informatica Inc. (NYSE:INFA) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 5,430,000 shares, a growth of 6.3% from the October 15th total of 5,110,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is currently 3.1 days. Currently, 4.0% of the shares of the stock are sold short.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Informatica from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Informatica in a research note on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Scotiabank lowered their price target on shares of Informatica from $33.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Informatica in a research report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.20.

Informatica Price Performance

Shares of Informatica stock traded up $0.13 during trading on Tuesday, reaching $25.63. 484,671 shares of the company’s stock were exchanged, compared to its average volume of 1,746,103. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.17 and a current ratio of 2.17. The company has a market cap of $7.83 billion, a P/E ratio of 121.39, a PEG ratio of 5.28 and a beta of 1.04. Informatica has a 1-year low of $22.08 and a 1-year high of $39.80. The firm’s 50-day moving average price is $25.72 and its 200 day moving average price is $26.80.

Informatica declared that its Board of Directors has initiated a share buyback program on Wednesday, October 30th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Informatica news, EVP John Arthur Schweitzer sold 8,501 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total value of $227,486.76. Following the completion of the transaction, the executive vice president now directly owns 393,686 shares in the company, valued at $10,535,037.36. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $268,295.76. Following the completion of the sale, the chief accounting officer now directly owns 142,671 shares of the company’s stock, valued at approximately $3,817,875.96. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 48.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Informatica

A number of hedge funds have recently made changes to their positions in INFA. First Horizon Advisors Inc. acquired a new position in Informatica in the second quarter valued at approximately $32,000. Quarry LP purchased a new position in shares of Informatica in the 3rd quarter worth about $38,000. National Bank of Canada FI boosted its holdings in Informatica by 3,288.0% in the 3rd quarter. National Bank of Canada FI now owns 1,694 shares of the technology company’s stock worth $43,000 after buying an additional 1,644 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Informatica in the second quarter worth about $46,000. Finally, Amalgamated Bank grew its position in Informatica by 42.1% during the second quarter. Amalgamated Bank now owns 3,498 shares of the technology company’s stock worth $108,000 after buying an additional 1,037 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.