Migdal Insurance & Financial Holdings Ltd. Buys 810,731 Shares of Innoviz Technologies Ltd. (NASDAQ:INVZ)

Migdal Insurance & Financial Holdings Ltd. boosted its stake in Innoviz Technologies Ltd. (NASDAQ:INVZ) by 13.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,805,731 shares of the company’s stock after acquiring an additional 810,731 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned 5.00% of Innoviz Technologies worth $11,434,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. boosted its holdings in shares of Innoviz Technologies by 29.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock valued at $2,665,000 after buying an additional 735,300 shares in the last quarter. Koshinski Asset Management Inc. bought a new stake in shares of Innoviz Technologies during the 4th quarter valued at $169,000. Traynor Capital Management Inc. bought a new stake in shares of Innoviz Technologies during the 4th quarter valued at $25,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Innoviz Technologies during the 4th quarter valued at $25,000. Institutional investors own 63.26% of the company’s stock.

Innoviz Technologies Price Performance

INVZ opened at $1.60 on Friday. Innoviz Technologies Ltd. has a 1 year low of $0.45 and a 1 year high of $3.14. The stock has a 50-day moving average price of $1.43 and a 200-day moving average price of $0.96. The firm has a market cap of $217.89 million, a PE ratio of -2.50 and a beta of 0.72.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INVZ. Westpark Capital began coverage on shares of Innoviz Technologies in a report on Wednesday, November 27th. They set a “buy” rating and a $1.30 target price on the stock. Cantor Fitzgerald cut shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. The Goldman Sachs Group lowered their price target on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Rosenblatt Securities raised Innoviz Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.01.

About Innoviz Technologies

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.