Essex Investment Management Co. LLC Reduces Stock Holdings in Identiv, Inc. (NASDAQ:INVE)

Essex Investment Management Co. LLC reduced its position in Identiv, Inc. (NASDAQ:INVE) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 404,121 shares of the technology company’s stock after selling 57,186 shares during the quarter. Essex Investment Management Co. LLC owned approximately 1.69% of Identiv worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in INVE. Royce & Associates LP increased its holdings in Identiv by 11.1% in the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock worth $4,849,000 after acquiring an additional 137,034 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Identiv during the third quarter valued at about $228,000. Finally, Raymond James Financial Inc. bought a new position in Identiv during the fourth quarter worth about $37,000. 65.16% of the stock is currently owned by institutional investors.

Identiv Trading Up 5.6 %

Shares of Identiv stock opened at $3.42 on Monday. The company’s 50-day moving average price is $3.59 and its 200-day moving average price is $3.63. Identiv, Inc. has a 12-month low of $2.95 and a 12-month high of $8.89. The company has a market cap of $81.69 million, a price-to-earnings ratio of 1.12 and a beta of 1.38.

Identiv (NASDAQ:INVE) last posted its earnings results on Wednesday, March 5th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.14. The business had revenue of $6.70 million for the quarter, compared to analysts’ expectations of $6.12 million. Identiv had a net margin of 113.62% and a negative return on equity of 20.60%. During the same period in the prior year, the company posted $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

A number of analysts recently commented on INVE shares. Lake Street Capital dropped their price target on shares of Identiv from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com upgraded Identiv from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

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.