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.
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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