Millennium Management LLC Grows Position in Identiv, Inc. (NASDAQ:INVE)

Millennium Management LLC raised its holdings in Identiv, Inc. (NASDAQ:INVE - Free Report) by 56.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,254 shares of the technology company's stock after acquiring an additional 85,020 shares during the period. Millennium Management LLC owned approximately 0.98% of Identiv worth $861,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in shares of Identiv in the 4th quarter valued at about $54,000. Boothbay Fund Management LLC increased its position 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 purchasing an additional 162,248 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Identiv by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 282,303 shares of the technology company's stock valued at $1,033,000 after purchasing an additional 5,844 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Identiv during the 4th quarter valued at about $51,000. Finally, Portolan Capital Management LLC increased its position in shares of Identiv by 3.8% during the 4th quarter. Portolan Capital Management LLC now owns 1,046,924 shares of the technology company's stock valued at $3,832,000 after purchasing an additional 38,704 shares during the last quarter. Hedge funds and other institutional investors own 65.16% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on INVE shares. Lake Street Capital reduced their price objective on Identiv from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen lowered Identiv from a "hold" rating to a "sell" rating in a research report on Thursday, March 20th.

Insider Transactions at Identiv

In other Identiv news, CEO Kirsten F. Newquist acquired 19,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $3.32 per share, for a total transaction of $63,080.00. Following the transaction, the chief executive officer now owns 258,931 shares in the company, valued at $859,650.92. This represents a 7.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.60% of the company's stock.

Identiv Price Performance

INVE opened at $3.21 on Friday. The stock's 50 day simple moving average is $3.21 and its 200 day simple moving average is $3.49. Identiv, Inc. has a 1 year low of $2.86 and a 1 year high of $4.44. The firm has a market cap of $75.81 million, a price-to-earnings ratio of 1.05 and a beta of 1.40.

Identiv (NASDAQ:INVE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.27 million for the quarter, compared to analyst estimates of $4.95 million. As a group, sell-side analysts anticipate that Identiv, Inc. will post -1.11 EPS for the current year.

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.

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