Innoviz Technologies Ltd. (NASDAQ:INVZ) Shares Bought by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. grew its stake in Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 237.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,572 shares of the company's stock after acquiring an additional 219,824 shares during the period. SBI Securities Co. Ltd. owned 0.16% of Innoviz Technologies worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC boosted its stake in shares of Innoviz Technologies by 12.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company's stock valued at $266,000 after purchasing an additional 16,900 shares in the last quarter. Lido Advisors LLC purchased a new stake in Innoviz Technologies during the fourth quarter valued at approximately $29,000. OneDigital Investment Advisors LLC purchased a new stake in Innoviz Technologies during the fourth quarter valued at approximately $37,000. XTX Topco Ltd purchased a new stake in Innoviz Technologies during the fourth quarter valued at approximately $80,000. Finally, Koshinski Asset Management Inc. lifted its position in Innoviz Technologies by 49.5% during the first quarter. Koshinski Asset Management Inc. now owns 150,000 shares of the company's stock valued at $98,000 after acquiring an additional 49,692 shares during the last quarter. 63.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on INVZ shares. The Goldman Sachs Group increased 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. Rosenblatt Securities reiterated a "buy" rating and set a $4.00 price objective on shares of Innoviz Technologies in a research note on Thursday, May 15th. Westpark Capital lifted their price objective on shares of Innoviz Technologies from $2.22 to $2.53 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Finally, Wall Street Zen upgraded shares of Innoviz Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $2.38.

Innoviz Technologies Stock Performance

NASDAQ INVZ traded up $0.19 on Friday, reaching $1.89. 12,395,537 shares of the company's stock traded hands, compared to its average volume of 5,604,228. The firm has a market cap of $376.03 million, a price-to-earnings ratio of -4.11 and a beta of 1.26. The stock has a 50 day moving average price of $1.18 and a 200-day moving average price of $1.07. Innoviz Technologies Ltd. has a fifty-two week low of $0.45 and a fifty-two week high of $3.14.

Innoviz Technologies 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.