Fred Alger Management LLC Cuts Holdings in Informatica Inc. (NYSE:INFA)

Fred Alger Management LLC reduced its position in shares of Informatica Inc. (NYSE:INFA) by 99.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,402 shares of the technology company’s stock after selling 792,682 shares during the quarter. Fred Alger Management LLC’s holdings in Informatica were worth $35,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of INFA. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Informatica by 11.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,935 shares of the technology company’s stock valued at $201,000 after purchasing an additional 810 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Informatica by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,824 shares of the technology company’s stock worth $674,000 after buying an additional 902 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in Informatica by 10.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 10,387 shares of the technology company’s stock worth $263,000 after buying an additional 993 shares in the last quarter. First Horizon Advisors Inc. acquired a new position in shares of Informatica during the second quarter valued at approximately $32,000. Finally, Amalgamated Bank lifted its position in shares of Informatica by 42.1% in the second quarter. Amalgamated Bank now owns 3,498 shares of the technology company’s stock valued at $108,000 after acquiring an additional 1,037 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Informatica

In other Informatica 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 transaction of $268,295.76. Following the sale, the chief accounting officer now directly owns 142,671 shares in the company, valued at $3,817,875.96. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Arthur Schweitzer sold 8,501 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 393,686 shares in the company, valued at $10,535,037.36. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. 48.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on INFA shares. Guggenheim reissued a “buy” rating on shares of Informatica in a research note on Friday, October 18th. UBS Group raised their price target on shares of Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.20.

Informatica Trading Down 0.3 %

Shares of INFA stock opened at $26.45 on Tuesday. Informatica Inc. has a 1-year low of $22.08 and a 1-year high of $39.80. The firm has a market cap of $8.08 billion, a PE ratio of 125.95, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. The company has a 50-day moving average of $25.93 and a two-hundred day moving average of $26.52. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.17 and a quick ratio of 2.17.

Informatica announced that its Board of Directors has approved a share buyback plan on Wednesday, October 30th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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.