Insider Selling: Sohaib Abbasi Sells 22,000 Shares of Informatica Stock (INFA)
Informatica (NASDAQ:INFA) CEO Sohaib Abbasi unloaded 22,000 shares of Informatica stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $34.57, for a total transaction of $760,540.00. Following the sale, the chief executive officer now directly owns 317,989 shares in the company, valued at approximately $10,992,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Informatica (NASDAQ:INFA) traded down 0.90% on Friday, hitting $34.12. The stock had a trading volume of 550,818 shares. Informatica has a 1-year low of $34.04 and a 1-year high of $43.79. The stock has a 50-day moving average of $36.19 and a 200-day moving average of $38.46. The company has a market cap of $3.746 billion and a price-to-earnings ratio of 40.99.
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 $1.63 earnings per share for the current fiscal year.
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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Informatica currently has an average rating of “Buy” and an average price target of $45.56.
Informatica Corporation (NASDAQ:INFA) is an independent provider of enterprise data integration and data quality software and services.