Insider Buying: Identiv, Inc. (NASDAQ:INVE) CEO Purchases $63,080.00 in Stock

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

Identiv Stock Performance

Shares of INVE opened at $3.36 on Thursday. The company’s 50-day simple moving average is $3.53 and its 200-day simple moving average is $3.62. Identiv, Inc. has a 1 year low of $2.95 and a 1 year high of $8.52. The stock has a market capitalization of $80.25 million, a PE ratio of 1.10 and a beta of 1.38.

Identiv (NASDAQ:INVE) last released its earnings results on Wednesday, March 5th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.70 million for the quarter, compared to analyst estimates of $6.12 million. During the same period in the prior year, the business earned $0.02 EPS. On average, sell-side analysts predict that Identiv, Inc. will post -1.11 earnings per share for the current year.

Institutional Investors Weigh In On Identiv

Several large investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. purchased a new position in shares of Identiv in the 3rd quarter valued at about $228,000. Royce & Associates LP lifted its stake in Identiv by 8.6% in the fourth quarter. Royce & Associates LP now owns 1,491,570 shares of the technology company’s stock worth $5,459,000 after acquiring an additional 117,827 shares during the last quarter. Jane Street Group LLC acquired a new position in Identiv during the 4th quarter worth approximately $54,000. Millennium Management LLC grew its holdings in Identiv by 56.6% during the 4th quarter. Millennium Management LLC now owns 235,254 shares of the technology company’s stock worth $861,000 after acquiring an additional 85,020 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Identiv in the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 65.16% of the company’s stock.

Analyst Upgrades and Downgrades

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

Identiv Company Profile

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.