Insider Selling: Sohaib Abbasi Sells 21,700 Shares of Informatica Corp. Stock (INFA)
Informatica Corp. (NASDAQ:INFA) CEO Sohaib Abbasi unloaded 21,700 shares of Informatica Corp. stock on the open market in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $37.44, for a total transaction of $812,448.00. Following the transaction, the chief executive officer now directly owns 78,102 shares in the company, valued at approximately $2,924,139. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Informatica Corp. (NASDAQ:INFA) traded up 0.76% on Tuesday, hitting $38.41. The stock had a trading volume of 952,190 shares. Informatica Corp. has a 52-week low of $23.83 and a 52-week high of $39.87. The stock’s 50-day moving average is $37.58 and its 200-day moving average is $35.89. The company has a market cap of $4.157 billion and a price-to-earnings ratio of 51.51.
Informatica Corp. (NASDAQ:INFA) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.31 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.31. The company had revenue of $222.40 million for the quarter, compared to the consensus estimate of $220.68 million. During the same quarter last year, the company posted $0.29 earnings per share. Informatica Corp.’s revenue was up 16.8% compared to the same quarter last year. On average, analysts predict that Informatica Corp. will post $1.42 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on INFA shares. Analysts at Barclays downgraded shares of Informatica Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday, October 7th. They now have a $44.00 price target on the stock, down previously from $45.00. Separately, analysts at Robert W. Baird raised their price target on shares of Informatica Corp. from $40.00 to $45.00 in a research note to investors on Friday, September 27th. They now have an “outperform” rating on the stock. Finally, analysts at Roth Capital raised their price target on shares of Informatica Corp. from $44.00 to $48.00 in a research note to investors on Sunday, September 22nd. They now have a “buy” rating on the stock. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $40.94.
Informatica Corporation (NASDAQ:INFA) is an independent provider of enterprise data integration and data quality software and services.
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