Raymond James Financial Inc. Takes Position in Identiv, Inc. (NASDAQ:INVE)

Raymond James Financial Inc. purchased a new stake in Identiv, Inc. (NASDAQ:INVE) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 10,000 shares of the technology company’s stock, valued at approximately $37,000.

Separately, Renaissance Technologies LLC increased its stake in Identiv by 94.0% during the 4th 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. 65.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Lake Street Capital cut their target price on Identiv from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. StockNews.com downgraded Identiv from a “hold” rating to a “sell” rating in a research note on Thursday, March 20th.

Identiv Trading Down 3.2%

NASDAQ INVE opened at $3.02 on Thursday. The firm’s 50 day simple moving average is $3.21 and its 200 day simple moving average is $3.53. The firm has a market capitalization of $71.20 million, a price-to-earnings ratio of 0.99 and a beta of 1.51. Identiv, Inc. has a 1 year low of $2.86 and a 1 year high of $4.68.

Identiv (NASDAQ:INVE) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. Identiv had a negative return on equity of 20.60% and a net margin of 113.62%. The company had revenue of $5.27 million for the quarter, compared to analyst estimates of $4.95 million. On average, equities research analysts forecast that Identiv, Inc. will post -1.11 earnings per share for the current year.

Insider Buying and Selling at Identiv

In related news, CEO Kirsten F. Newquist bought 19,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $3.32 per share, with a total value of $63,080.00. Following the completion of the acquisition, the chief executive officer now owns 258,931 shares of the company’s stock, valued at $859,650.92. The trade was a 7.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.60% of the company’s stock.

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.