Kornitzer Capital Management Inc. KS Acquires 23,596 Shares of Impinj, Inc. $PI

Kornitzer Capital Management Inc. KS boosted its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 38.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,412 shares of the company’s stock after purchasing an additional 23,596 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Impinj were worth $15,134,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Signaturefd LLC boosted its stake in Impinj by 72.3% in the third quarter. Signaturefd LLC now owns 162 shares of the company’s stock worth $29,000 after purchasing an additional 68 shares in the last quarter. TOP Private Wealth LLC. bought a new stake in shares of Impinj during the second quarter worth $25,000. CoreCap Advisors LLC acquired a new stake in shares of Impinj in the third quarter valued at $37,000. Global Retirement Partners LLC acquired a new stake in shares of Impinj in the second quarter valued at $31,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Impinj in the first quarter valued at $28,000.

Insider Buying and Selling

In other news, Director Miron Washington sold 800 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $173.26, for a total transaction of $138,608.00. Following the completion of the transaction, the director directly owned 4,354 shares in the company, valued at approximately $754,374.04. The trade was a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sylebra Capital Llc sold 49,691 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $185.23, for a total value of $9,204,263.93. Following the completion of the sale, the director directly owned 726,252 shares of the company’s stock, valued at approximately $134,523,657.96. This trade represents a 6.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 103,041 shares of company stock worth $19,062,138. Corporate insiders own 6.80% of the company’s stock.

Impinj Stock Performance

PI stock opened at $171.03 on Friday. The business’s fifty day moving average is $178.13 and its 200-day moving average is $144.42. The company has a quick ratio of 7.07, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The company has a market cap of $5.28 billion, a P/E ratio of -518.26 and a beta of 1.90. Impinj, Inc. has a twelve month low of $87.36 and a twelve month high of $215.25.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. Impinj had a positive return on equity of 6.65% and a negative net margin of 2.45%. The business had revenue of $112.08 million during the quarter, compared to analysts’ expectations of $107.16 million. During the same period in the previous year, the firm earned $0.58 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities research analysts forecast that Impinj, Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on PI shares. Barclays upped their price target on shares of Impinj from $200.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Wall Street Zen upgraded shares of Impinj from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. UBS Group raised their price objective on shares of Impinj from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Impinj in a research note on Thursday, July 30th. Finally, Susquehanna upped their target price on shares of Impinj from $175.00 to $225.00 and gave the stock a “positive” rating in a research report on Thursday, October 29th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $196.10.

Impinj Company Profile

Impinj, Inc (NASDAQ: PI) develops technology for the Internet of Things (IoT) based on RAIN RFID, a wireless technology used to identify, locate and authenticate individual items. Its platform is designed to connect physical products, packages and assets to digital systems, helping organizations collect real-time information throughout supply chains and business operations.

The company offers a portfolio of RAIN RFID endpoint integrated circuits, reader chips, RFID readers and gateways, antennas, and cloud and software solutions.