Cresset Asset Management LLC Has $4.38 Million Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Cresset Asset Management LLC lessened its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,596 shares of the Wireless communications provider’s stock after selling 656 shares during the quarter. Cresset Asset Management LLC owned approximately 0.09% of InterDigital worth $4,377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Congress Asset Management Co. acquired a new stake in InterDigital in the 4th quarter valued at $62,583,000. Price T Rowe Associates Inc. MD boosted its stake in shares of InterDigital by 1,451.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 299,326 shares of the Wireless communications provider’s stock valued at $57,986,000 after purchasing an additional 280,030 shares in the last quarter. Reinhart Partners LLC. grew its holdings in shares of InterDigital by 83.8% in the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock worth $69,785,000 after purchasing an additional 164,223 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of InterDigital during the 4th quarter worth about $19,572,000. Finally, Norges Bank bought a new position in InterDigital during the 4th quarter valued at about $17,387,000. 99.83% of the stock is currently owned by institutional investors.

InterDigital Price Performance

Shares of InterDigital stock opened at $211.97 on Friday. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 1.57 and a beta of 1.35. The firm’s 50-day moving average price is $205.61 and its two-hundred day moving average price is $194.24. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 1-year low of $105.28 and a 1-year high of $231.97.

Insider Buying and Selling

In other InterDigital news, CFO Richard Brezski sold 9,602 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the transaction, the chief financial officer now owns 102,555 shares of the company’s stock, valued at approximately $22,070,861.55. This represents a 8.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $218.08, for a total value of $152,656.00. Following the completion of the sale, the chief technology officer now directly owns 71,606 shares of the company’s stock, valued at $15,615,836.48. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,133 shares of company stock worth $2,809,160 in the last three months. Insiders own 2.30% of the company’s stock.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.