Nicholas Investment Partners LP reduced its position in shares of IMPINJ Inc (NYSE:PI) by 27.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,389 shares of the company’s stock after selling 23,233 shares during the period. Nicholas Investment Partners LP owned about 0.30% of IMPINJ worth $3,034,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its holdings in IMPINJ by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after acquiring an additional 1,942 shares in the last quarter. American International Group Inc. acquired a new stake in IMPINJ in the first quarter valued at $112,000. ClariVest Asset Management LLC acquired a new stake in IMPINJ in the first quarter valued at $127,000. Nordea Investment Management AB acquired a new stake in IMPINJ in the first quarter valued at $127,000. Finally, Turner Investments LLC acquired a new stake in IMPINJ in the second quarter valued at $146,000.
Several analysts recently issued reports on the stock. KeyCorp cut shares of IMPINJ to a “hold” rating in a report on Tuesday, June 27th. Morgan Stanley cut shares of IMPINJ from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $40.00 to $51.00 in a report on Monday, June 19th. Canaccord Genuity reaffirmed a “buy” rating and issued a $50.00 price target (down from $57.00) on shares of IMPINJ in a report on Friday, August 4th. Dougherty & Co assumed coverage on shares of IMPINJ in a report on Wednesday, August 23rd. They issued a “buy” rating and a $62.00 price target on the stock. Finally, Royal Bank Of Canada upped their price target on shares of IMPINJ from $50.00 to $59.00 and gave the company an “outperform” rating in a report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. IMPINJ currently has a consensus rating of “Buy” and a consensus target price of $47.63.
IMPINJ Inc (NYSE:PI) traded up 1.29% during mid-day trading on Wednesday, reaching $40.06. 41,773 shares of the company’s stock traded hands. IMPINJ Inc has a 12 month low of $23.55 and a 12 month high of $41.91. The firm’s 50-day moving average price is $38.99 and its 200 day moving average price is $38.99. The stock’s market capitalization is $835.65 million.
IMPINJ (NYSE:PI) last issued its earnings results on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $34.10 million during the quarter, compared to analysts’ expectations of $33.41 million. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. IMPINJ’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period last year, the business earned $0.06 earnings per share. Equities research analysts predict that IMPINJ Inc will post $0.05 EPS for the current year.
In related news, COO Eric Brodersen sold 3,500 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $35.74, for a total value of $125,090.00. Following the completion of the transaction, the chief operating officer now directly owns 101,443 shares of the company’s stock, valued at $3,625,572.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $38.00, for a total value of $342,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at $581,400. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,000 shares of company stock valued at $1,276,605.
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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