Identiv, Inc. (NASDAQ:INVE) Shares Sold by Portolan Capital Management LLC

Portolan Capital Management LLC lowered its stake in Identiv, Inc. (NASDAQ:INVE) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,008,220 shares of the technology company’s stock after selling 6,666 shares during the quarter. Portolan Capital Management LLC owned about 4.22% of Identiv worth $3,559,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Royce & Associates LP grew its position in Identiv by 11.1% in the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after acquiring an additional 137,034 shares in the last quarter. Vanguard Group Inc. grew its stake in Identiv by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,190,743 shares of the technology company’s stock worth $9,431,000 after purchasing an additional 3,407 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Identiv by 156.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock worth $994,000 after purchasing an additional 140,981 shares during the period. Renaissance Technologies LLC increased its holdings in Identiv by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after purchasing an additional 4,000 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Identiv in the 2nd quarter valued at about $370,000. Hedge funds and other institutional investors own 65.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on INVE shares. StockNews.com upgraded shares of Identiv from a “sell” rating to a “hold” rating in a report on Monday, November 11th. B. Riley lowered their price objective on Identiv from $9.50 to $8.50 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Craig Hallum decreased their target price on Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Identiv Stock Down 4.5 %

INVE opened at $4.05 on Wednesday. Identiv, Inc. has a 52 week low of $2.95 and a 52 week high of $9.24. The business’s 50 day moving average is $3.67 and its two-hundred day moving average is $3.79. The firm has a market cap of $96.75 million, a price-to-earnings ratio of 1.32 and a beta of 1.35.

Identiv declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 7th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the technology company to purchase up to 11.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.