Identiv, Inc. (NASDAQ:INVE) CEO Kirsten F. Newquist Purchases 19,000 Shares

Identiv, Inc. (NASDAQ:INVE) CEO Kirsten F. Newquist bought 19,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $3.32 per share, for a total transaction of $63,080.00. Following the acquisition, the chief executive officer now directly owns 258,931 shares of the company’s stock, valued at approximately $859,650.92. The trade was a 7.92 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Identiv Stock Up 0.6 %

Shares of INVE traded up $0.02 during mid-day trading on Monday, hitting $3.20. 66,798 shares of the company’s stock traded hands, compared to its average volume of 84,821. The business’s 50-day moving average price is $3.55 and its 200-day moving average price is $3.63. Identiv, Inc. has a 1 year low of $2.95 and a 1 year high of $8.52. The firm has a market capitalization of $76.43 million, a P/E ratio of 1.05 and a beta of 1.38.

Identiv (NASDAQ:INVE) last announced its earnings results on Wednesday, March 5th. The technology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.14. Identiv had a net margin of 113.62% and a negative return on equity of 20.60%. The firm had revenue of $6.70 million for the quarter, compared to analyst estimates of $6.12 million. During the same quarter in the previous year, the firm posted $0.02 EPS. Sell-side analysts anticipate that Identiv, Inc. will post -1.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Identiv

Several hedge funds have recently made changes to their positions in INVE. Boothbay Fund Management LLC boosted its holdings in shares of Identiv by 183.1% during the 4th quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company’s stock valued at $918,000 after buying an additional 162,248 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Identiv by 11.1% during the third quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after purchasing an additional 137,034 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Identiv by 94.0% in the 4th quarter. Renaissance Technologies LLC now owns 176,710 shares of the technology company’s stock worth $647,000 after buying an additional 85,628 shares during the last quarter. Millennium Management LLC increased its position in Identiv by 56.6% during the 4th quarter. Millennium Management LLC now owns 235,254 shares of the technology company’s stock valued at $861,000 after buying an additional 85,020 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Identiv during the third quarter valued at $228,000. 65.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital cut their price target on shares of Identiv from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 6th.

About Identiv

Identiv, Inc, a security technology company, that provides secure identification and physical security solutions that secure things, data, and physical places worldwide. It operates in two segments, Identity and Premises. The Identity segment offers products and solutions that enables secure access to information serving the logical access and cyber security markets, as well as protecting connected objects and information using radio-frequency identification embedded security.