Migdal Insurance & Financial Holdings Ltd. Purchases 1,600,000 Shares of Innoviz Technologies Ltd. (NASDAQ:INVZ)

Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 38.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,795,000 shares of the company's stock after acquiring an additional 1,600,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned about 3.51% of Innoviz Technologies worth $14,661,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Crown Wealth Group LLC purchased a new stake in shares of Innoviz Technologies during the fourth quarter valued at $28,000. US Bancorp DE raised its holdings in Innoviz Technologies by 71.5% during the 2nd quarter. US Bancorp DE now owns 11,095 shares of the company's stock worth $32,000 after buying an additional 4,626 shares during the period. Private Advisor Group LLC purchased a new stake in Innoviz Technologies during the first quarter valued at about $35,000. LPL Financial LLC boosted its holdings in shares of Innoviz Technologies by 48.9% in the third quarter. LPL Financial LLC now owns 18,608 shares of the company's stock worth $36,000 after buying an additional 6,113 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in shares of Innoviz Technologies in the first quarter worth approximately $38,000. 63.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on INVZ. Rosenblatt Securities decreased their price objective on shares of Innoviz Technologies from $5.00 to $3.25 and set a "neutral" rating for the company in a research note on Thursday, February 29th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $7.00 price target (down previously from $13.00) on shares of Innoviz Technologies in a report on Tuesday, March 26th. Finally, The Goldman Sachs Group reduced their price objective on Innoviz Technologies from $3.00 to $2.50 and set a "buy" rating for the company in a research note on Thursday, January 25th.

Innoviz Technologies Price Performance

INVZ stock remained flat at $1.07 during midday trading on Wednesday. 3,688,068 shares of the company's stock were exchanged, compared to its average volume of 2,986,191. The company's 50-day moving average price is $1.47 and its 200 day moving average price is $1.77. The stock has a market capitalization of $145.71 million, a P/E ratio of -1.25 and a beta of 1.04. Innoviz Technologies Ltd. has a 12 month low of $1.03 and a 12 month high of $4.39.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). Innoviz Technologies had a negative return on equity of 78.39% and a negative net margin of 591.37%. The business had revenue of $14.92 million during the quarter, compared to analyst estimates of $12.25 million. As a group, equities research analysts predict that Innoviz Technologies Ltd. will post -0.85 EPS for the current year.

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.