Insider Selling: Sohaib Abbasi Sells 22,296 Shares of Informatica Stock (INFA)
Informatica (NASDAQ:INFA) CEO Sohaib Abbasi unloaded 22,296 shares of Informatica stock on the open market in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $37.09, for a total transaction of $826,958.64. Following the completion of the sale, the chief executive officer now directly owns 317,989 shares in the company, valued at approximately $11,794,212. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Informatica (NASDAQ:INFA) traded down 0.05% during mid-day trading on Wednesday, hitting $36.77. 367,008 shares of the company’s stock traded hands. Informatica has a 52-week low of $32.87 and a 52-week high of $43.79. The stock has a 50-day moving average of $36.94 and a 200-day moving average of $39.17. The company has a market cap of $4.037 billion and a price-to-earnings ratio of 43.80. Informatica also saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 1,995,198 shares, a growth of 44.8% from the April 15th total of 1,377,444 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average trading volume of 1,369,812 shares, the days-to-cover ratio is currently 1.5 days.
Informatica (NASDAQ:INFA) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $243.10 million for the quarter, compared to the consensus estimate of $242.37 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts predict that Informatica will post $1.62 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on INFA shares. Analysts at Bank of America upgraded shares of Informatica from an “underperform” rating to a “neutral” rating in a research note on Monday, May 5th. They now have a $37.00 price target on the stock. Separately, analysts at TheStreet downgraded shares of Informatica from a “buy” rating to a “hold” rating in a research note on Monday, April 28th. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Informatica in a research note on Friday, April 25th. They now have a $42.00 price target on the stock. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $45.94.
Informatica Corporation (NASDAQ:INFA) is an independent provider of enterprise data integration and data quality software and services.
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