Harel Insurance Investments & Financial Services Ltd. Reduces Position in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Harel Insurance Investments & Financial Services Ltd. trimmed its holdings in Innoviz Technologies Ltd. (NASDAQ:INVZ) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,388,959 shares of the company’s stock after selling 306,600 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Innoviz Technologies were worth $7,373,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in INVZ. Polar Asset Management Partners Inc. raised 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 worth $2,665,000 after acquiring an additional 735,300 shares during the period. SkyView Investment Advisors LLC purchased a new stake in shares of Innoviz Technologies during the 2nd quarter valued at approximately $371,000. Koshinski Asset Management Inc. acquired a new position in Innoviz Technologies in the fourth quarter valued at approximately $169,000. Traynor Capital Management Inc. purchased a new position in Innoviz Technologies in the fourth quarter worth approximately $25,000. Finally, FNY Investment Advisers LLC acquired a new stake in Innoviz Technologies during the fourth quarter worth $25,000. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Innoviz Technologies Price Performance

NASDAQ INVZ opened at $1.83 on Friday. The company has a market cap of $249.21 million, a P/E ratio of -2.86 and a beta of 0.73. The stock has a 50-day moving average of $1.26 and a two-hundred day moving average of $0.92. Innoviz Technologies Ltd. has a 1-year low of $0.45 and a 1-year 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.