Insider Buying: Identiv, Inc. (NASDAQ:INVE) CEO Purchases 19,000 Shares of Stock

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

Identiv Trading Up 0.6 %

INVE stock traded up $0.02 during midday trading on Monday, reaching $3.20. 66,798 shares of the company’s stock traded hands, compared to its average volume of 84,821. Identiv, Inc. has a 52-week low of $2.95 and a 52-week high of $8.52. The stock has a market cap of $76.43 million, a P/E ratio of 1.05 and a beta of 1.38. The stock’s 50-day moving average is $3.55 and its 200 day moving average is $3.63.

Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported ($0.11) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $6.12 million. During the same quarter in the previous year, the firm posted $0.02 EPS. As a group, research analysts expect that Identiv, Inc. will post -1.11 EPS for the current fiscal year.

Institutional Trading of Identiv

Hedge funds and other institutional investors have recently modified their holdings of the company. Boothbay Fund Management LLC lifted its stake 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 position in shares of Identiv by 11.1% in the third quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after acquiring an additional 137,034 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Identiv by 94.0% in the fourth quarter. Renaissance Technologies LLC now owns 176,710 shares of the technology company’s stock worth $647,000 after acquiring an additional 85,628 shares during the period. Millennium Management LLC grew its position in shares of Identiv by 56.6% during the fourth quarter. Millennium Management LLC now owns 235,254 shares of the technology company’s stock worth $861,000 after purchasing an additional 85,020 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Identiv during the 3rd quarter valued at approximately $228,000. 65.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lowered their target price on 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.