IMPINJ Inc (PI) Shares Up -4.3% After Insider Buying Activity

Shares of IMPINJ Inc (NYSE:PI) traded up 4.3% during mid-day trading on Monday following insider buying activity. The stock traded as high as $27.26 and last traded at $25.29. 492,707 shares traded hands during trading, a decline of 37% from the average session volume of 782,114 shares. The stock had previously closed at $26.44.

Specifically, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $38.00, for a total value of $342,000.00. Following the sale, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at $581,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $35.74, for a total value of $125,090.00. Following the completion of the sale, the chief operating officer now directly owns 101,443 shares in the company, valued at $3,625,572.82. The disclosure for this sale can be found here. Insiders have sold 37,000 shares of company stock worth $1,392,420 over the last ninety days.

Several analysts have commented on PI shares. Zacks Investment Research lowered shares of IMPINJ from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Royal Bank Of Canada restated an “outperform” rating on shares of IMPINJ in a report on Saturday, July 22nd. Needham & Company LLC raised their price objective on shares of IMPINJ from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Dougherty & Co started coverage on shares of IMPINJ in a report on Wednesday, August 23rd. They issued a “buy” rating and a $62.00 price objective for the company. Finally, BidaskClub lowered shares of IMPINJ from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. IMPINJ currently has a consensus rating of “Hold” and an average price target of $36.67.

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

Several institutional investors and hedge funds have recently made changes to their positions in PI. Gilder Gagnon Howe & Co. LLC grew its position in IMPINJ by 4.0% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,191,393 shares of the company’s stock worth $91,184,000 after purchasing an additional 84,514 shares during the period. Hood River Capital Management LLC grew its position in IMPINJ by 1.1% in the 3rd quarter. Hood River Capital Management LLC now owns 739,823 shares of the company’s stock worth $30,784,000 after purchasing an additional 7,858 shares during the period. Sumitomo Mitsui Asset Management Company LTD bought a new stake in IMPINJ in the 3rd quarter worth approximately $26,714,000. Vanguard Group Inc. grew its position in IMPINJ by 26.6% in the 2nd quarter. Vanguard Group Inc. now owns 614,227 shares of the company’s stock worth $29,883,000 after purchasing an additional 128,980 shares during the period. Finally, State Street Corp grew its position in IMPINJ by 207.6% in the 2nd quarter. State Street Corp now owns 303,827 shares of the company’s stock worth $14,781,000 after purchasing an additional 205,050 shares during the period.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Markets Daily and is owned by of Markets Daily. If you are reading this piece of content on another site, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/11/14/impinj-inc-pi-shares-up-4-3-after-insider-buying-activity.html.

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.

Receive News & Ratings for IMPINJ Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMPINJ Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply