Gilder Gagnon Howe & Co. LLC Increases Stake in IMPINJ Inc (PI)

Gilder Gagnon Howe & Co. LLC increased its holdings in IMPINJ Inc (NYSE:PI) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,191,393 shares of the company’s stock after purchasing an additional 84,514 shares during the period. IMPINJ makes up about 1.3% of Gilder Gagnon Howe & Co. LLC’s holdings, making the stock its 20th biggest holding. Gilder Gagnon Howe & Co. LLC owned approximately 10.46% of IMPINJ worth $91,184,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PI. New York State Common Retirement Fund boosted its position in IMPINJ by 21.1% during the 3rd quarter. New York State Common Retirement Fund now owns 46,232 shares of the company’s stock valued at $1,924,000 after buying an additional 8,046 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new stake in IMPINJ during the 3rd quarter valued at $1,123,000. Macguire Cheswick & Tuttle Investment Counsel LLC boosted its position in IMPINJ by 170.4% during the 3rd quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 16,735 shares of the company’s stock valued at $696,000 after buying an additional 10,545 shares during the period. K.J. Harrison & Partners Inc purchased a new stake in IMPINJ during the 3rd quarter valued at $1,082,000. Finally, Victory Capital Management Inc. purchased a new stake in IMPINJ during the 3rd quarter valued at $1,453,000.

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In other IMPINJ news, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $38.00, for a total transaction of $342,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,300 shares in the company, valued at approximately $581,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Eric Brodersen sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $35.74, for a total transaction of $125,090.00. Following the sale, the chief operating officer now owns 101,443 shares of the company’s stock, valued at $3,625,572.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,000 shares of company stock valued at $1,392,420.

Several brokerages have weighed in on PI. KeyCorp reissued a “hold” rating on shares of IMPINJ in a research report on Friday, November 3rd. BidaskClub cut shares of IMPINJ from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price (down from $45.00) on shares of IMPINJ in a research report on Thursday, November 2nd. Dougherty & Co dropped their target price on shares of IMPINJ from $62.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. Finally, Morgan Stanley dropped their target price on shares of IMPINJ from $37.00 to $29.00 and set an “equal weight” rating for the company in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $36.67.

Shares of IMPINJ Inc (NYSE PI) traded down $0.81 during trading on Monday, hitting $25.63. 577,509 shares of the company traded hands, compared to its average volume of 782,114. IMPINJ Inc has a 52 week low of $19.97 and a 52 week high of $60.85.

IMPINJ (NYSE:PI) last issued its quarterly earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). The business had revenue of $32.60 million during the quarter, compared to the consensus estimate of $32.58 million. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share.

About IMPINJ

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.

Institutional Ownership by Quarter for IMPINJ (NYSE:PI)

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