Migdal Insurance & Financial Holdings Ltd. Has $14.66 Million Stock Holdings in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Migdal Insurance & Financial Holdings Ltd. raised its holdings in Innoviz Technologies Ltd. (NASDAQ:INVZ) by 38.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,795,000 shares of the company’s stock after acquiring an additional 1,600,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Innoviz Technologies were worth $14,661,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. bought a new position in Innoviz Technologies during the first quarter worth $47,000. Renaissance Technologies LLC increased its holdings in Innoviz Technologies by 63.4% in the 1st quarter. Renaissance Technologies LLC now owns 271,000 shares of the company’s stock valued at $981,000 after buying an additional 105,200 shares during the period. Engineers Gate Manager LP bought a new stake in Innoviz Technologies in the 1st quarter valued at $38,000. State Street Corp increased its holdings in Innoviz Technologies by 1.3% in the 1st quarter. State Street Corp now owns 1,616,692 shares of the company’s stock valued at $5,852,000 after buying an additional 21,024 shares during the period. Finally, Carolinas Wealth Consulting LLC increased its holdings in Innoviz Technologies by 33.3% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 40,000 shares of the company’s stock valued at $145,000 after buying an additional 10,000 shares during the period. 63.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INVZ has been the topic of several analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $7.00 price target (down previously from $13.00) on shares of Innoviz Technologies in a report on Tuesday, March 26th. The Goldman Sachs Group lowered their price target on shares of Innoviz Technologies from $3.00 to $2.50 and set a “buy” rating on the stock in a report on Thursday, January 25th. Finally, Rosenblatt Securities lowered their price target on shares of Innoviz Technologies from $5.00 to $3.25 and set a “neutral” rating on the stock in a report on Thursday, February 29th.

Innoviz Technologies Stock Down 0.9 %

Shares of INVZ traded down $0.01 during trading hours on Wednesday, hitting $1.06. The stock had a trading volume of 2,539,602 shares, compared to its average volume of 2,968,744. The company’s fifty day moving average is $1.47 and its two-hundred day moving average is $1.77. Innoviz Technologies Ltd. has a 52 week low of $1.03 and a 52 week high of $4.39.

Innoviz Technologies (NASDAQ:INVZ) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). The business had revenue of $14.92 million for the quarter, compared to the consensus estimate of $12.25 million. Innoviz Technologies had a negative net margin of 591.37% and a negative return on equity of 78.39%. Equities research analysts anticipate that Innoviz Technologies Ltd. will post -0.85 EPS for the current fiscal year.

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.