Informatica (NYSE:INFA) Shares Gap Up – Still a Buy?

Informatica Inc. (NYSE:INFA)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $26.70, but opened at $27.40. Informatica shares last traded at $27.38, with a volume of 285,184 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of Informatica in a report on Thursday. They issued a “buy” rating and a $34.00 price objective on the stock. JPMorgan Chase & Co. lowered 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. UBS Group boosted their price target on shares of Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Guggenheim restated a “buy” rating on shares of Informatica in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Informatica currently has a consensus rating of “Moderate Buy” and an average price target of $33.27.

Informatica Price Performance

The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $8.19 billion, a P/E ratio of 127.72, a P/E/G ratio of 5.68 and a beta of 1.00. The company has a 50 day moving average price of $26.27 and a 200 day moving average price of $26.36.

Informatica declared that its board has approved 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Informatica

In other news, CAO Mark Pellowski sold 10,026 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Arthur Schweitzer sold 8,501 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.76, for a total transaction of $227,486.76. Following the completion of the transaction, the executive vice president now 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 disclosure for this sale can be found here. Corporate insiders own 48.10% of the company’s stock.

Institutional Trading of Informatica

A number of institutional investors have recently bought and sold shares of INFA. Wellington Management Group LLP grew its holdings in shares of Informatica by 29.9% during the 3rd quarter. Wellington Management Group LLP now owns 11,564,047 shares of the technology company’s stock worth $292,339,000 after purchasing an additional 2,662,379 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Informatica by 398.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,042,961 shares of the technology company’s stock worth $178,046,000 after purchasing an additional 5,631,139 shares during the period. Fiera Capital Corp grew its stake in Informatica by 439.2% during the second quarter. Fiera Capital Corp now owns 1,554,592 shares of the technology company’s stock worth $48,006,000 after buying an additional 1,266,265 shares in the last quarter. Geode Capital Management LLC grew its stake in Informatica by 34.5% during the third quarter. Geode Capital Management LLC now owns 1,213,188 shares of the technology company’s stock worth $30,677,000 after buying an additional 311,003 shares in the last quarter. Finally, State Street Corp raised its position in shares of Informatica by 25.1% in the 3rd quarter. State Street Corp now owns 1,051,013 shares of the technology company’s stock valued at $26,570,000 after buying an additional 210,843 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

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.