Insider Selling: Informatica CEO Sells 28,000 Shares of Stock (INFA)
Informatica (NASDAQ:INFA) CEO Sohaib Abbasi sold 28,000 shares of the stock on the open market in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $35.90, for a total transaction of $1,005,200.00. Following the completion of the transaction, the chief executive officer now directly owns 317,989 shares of the company’s stock, valued at approximately $11,415,805. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs cut their price target on shares of Informatica from $44.00 to $39.00 in a research note on Thursday, May 22nd. Separately, 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. Finally, analysts at TheStreet downgraded shares of Informatica from a “buy” rating to a “hold” rating in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $45.56.
Shares of Informatica (NASDAQ:INFA) remained flat at $35.66 during during mid-day trading trading on Thursday. The stock had a trading volume of 1,007,503 shares. Informatica has a one year low of $34.62 and a one year high of $43.79. The stock has a 50-day moving average of $36.54 and a 200-day moving average of $38.69. The company has a market cap of $3.915 billion and a P/E ratio of 42.45.
Informatica (NASDAQ:INFA) last announced its earnings results on Thursday, April 24th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts predict that Informatica will post $1.63 earnings per share for the current fiscal year.
Informatica Corporation (NASDAQ:INFA) is an independent provider of enterprise data integration and data quality software and services.
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