Banco Santander S.A. Makes New Investment in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Banco Santander S.A. purchased a new position in Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 366,570 shares of the company's stock, valued at approximately $239,000. Banco Santander S.A. owned about 0.18% of Innoviz Technologies at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INVZ. HITE Hedge Asset Management LLC purchased a new stake in shares of Innoviz Technologies during the fourth quarter valued at $1,972,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Innoviz Technologies during the fourth quarter valued at $1,932,000. Nomura Holdings Inc. grew its holdings in shares of Innoviz Technologies by 272.5% during the fourth quarter. Nomura Holdings Inc. now owns 791,520 shares of the company's stock valued at $1,330,000 after buying an additional 579,020 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Innoviz Technologies by 7.3% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,305,731 shares of the company's stock valued at $4,763,000 after buying an additional 500,000 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Innoviz Technologies by 237.0% during the first quarter. SBI Securities Co. Ltd. now owns 312,572 shares of the company's stock valued at $204,000 after buying an additional 219,824 shares during the last quarter. 63.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INVZ. Rosenblatt Securities reissued a "buy" rating and set a $4.00 price objective on shares of Innoviz Technologies in a report on Thursday, May 15th. Westpark Capital boosted their target price on shares of Innoviz Technologies from $2.22 to $2.53 and gave the company a "buy" rating in a research report on Wednesday, June 18th. The Goldman Sachs Group boosted their target price on shares of Innoviz Technologies from $0.75 to $1.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Innoviz Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Innoviz Technologies presently has a consensus rating of "Hold" and an average price target of $2.38.

Innoviz Technologies Price Performance

NASDAQ INVZ opened at $1.51 on Tuesday. The company has a market capitalization of $300.43 million, a PE ratio of -3.28 and a beta of 1.25. The company has a fifty day moving average of $1.37 and a 200 day moving average of $1.06. Innoviz Technologies Ltd. has a 1 year low of $0.45 and a 1 year high of $3.14.

Innoviz Technologies Company Profile

Innoviz Technologies Ltd. manufactures and sells automotive grade LiDAR sensors and perception software to enable safe autonomous driving at a mass scale. The company offers InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxis, shuttles, trucks, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.

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