Renaissance Technologies LLC Raises Stock Holdings in Identiv, Inc. (NASDAQ:INVE)

Renaissance Technologies LLC boosted its stake in shares of Identiv, Inc. (NASDAQ:INVE) by 94.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 176,710 shares of the technology company’s stock after acquiring an additional 85,628 shares during the quarter. Renaissance Technologies LLC’s holdings in Identiv were worth $647,000 at the end of the most recent quarter.

Separately, Raymond James Financial Inc. acquired a new position in shares of Identiv in the 4th quarter worth approximately $37,000. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

Identiv Stock Performance

Shares of INVE opened at $3.34 on Friday. The company’s 50-day simple moving average is $3.27 and its 200-day simple moving average is $3.56. Identiv, Inc. has a 1 year low of $2.86 and a 1 year high of $5.27. The stock has a market capitalization of $78.74 million, a PE ratio of 1.09 and a beta of 1.32.

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.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Lake Street Capital dropped their target price on shares of Identiv from $7.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 6th. StockNews.com cut Identiv from a “hold” rating to a “sell” rating in a research note on Thursday, March 20th.

Insider Activity

In related news, CEO Kirsten F. Newquist bought 19,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $3.32 per share, with a total value of $63,080.00. Following the purchase, the chief executive officer now directly owns 258,931 shares of the company’s stock, valued at $859,650.92. This trade represents a 7.92 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 4.60% of the company’s stock.

Identiv 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.