Essex Investment Management Co. LLC Sells 57,186 Shares of Identiv, Inc. (NASDAQ:INVE)

Essex Investment Management Co. LLC reduced its stake in shares of Identiv, Inc. (NASDAQ:INVE) by 12.4% in the fourth quarter, HoldingsChannel.com reports. 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’s holdings in Identiv were worth $1,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Identiv during the fourth quarter valued at approximately $37,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Identiv in the 3rd quarter valued at $228,000. Finally, Royce & Associates LP grew its holdings in shares of Identiv by 11.1% during the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after purchasing an additional 137,034 shares during the last quarter. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

Identiv Stock Up 5.6 %

Shares of NASDAQ INVE opened at $3.42 on Monday. The company has a market cap of $81.69 million, a price-to-earnings ratio of 1.12 and a beta of 1.38. The firm’s fifty day moving average is $3.59 and its 200 day moving average is $3.63. Identiv, Inc. has a 52 week low of $2.95 and a 52 week high of $8.89.

Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.14. The firm had revenue of $6.70 million during the quarter, compared to the consensus estimate 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 firm posted $0.02 earnings per share. Equities research analysts anticipate that Identiv, Inc. will post -1.11 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on INVE shares. StockNews.com raised shares of Identiv from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Lake Street Capital lowered their target price on Identiv from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday.

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.