First Washington CORP maintained its stake in shares of IMPINJ Inc (NYSE:PI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,040 shares of the company’s stock at the close of the second quarter. First Washington CORP’s holdings in IMPINJ were worth $196,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in IMPINJ by 1,261.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after purchasing an additional 1,942 shares during the last quarter. Turner Investments LLC acquired a new position in IMPINJ during the second quarter worth approximately $146,000. First Mercantile Trust Co. acquired a new position in IMPINJ during the second quarter worth approximately $178,000. American International Group Inc. acquired a new position in IMPINJ during the first quarter worth approximately $112,000. Finally, ClariVest Asset Management LLC acquired a new position in IMPINJ during the first quarter worth approximately $127,000.
Several equities analysts recently commented on PI shares. Royal Bank Of Canada dropped their price target on shares of IMPINJ from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, May 15th. Zacks Investment Research lowered shares of IMPINJ from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 18th. Morgan Stanley lowered shares of IMPINJ from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $40.00 to $51.00 in a research report on Monday, June 19th. KeyCorp lowered shares of IMPINJ to a “hold” rating in a research report on Tuesday, June 27th. Finally, Needham & Company LLC upped their price target on shares of IMPINJ from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.63.
In other news, insider Eric Brodersen sold 7,000 shares of IMPINJ stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $35.81, for a total value of $250,670.00. Following the transaction, the insider now owns 101,443 shares of the company’s stock, valued at $3,632,673.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Evan Fein sold 9,000 shares of IMPINJ stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 15,300 shares in the company, valued at approximately $581,400. The disclosure for this sale can be found here. Insiders sold 47,000 shares of company stock valued at $2,137,015 over the last quarter.
IMPINJ Inc (NYSE PI) traded up 3.0349% during midday trading on Tuesday, hitting $38.6999. 269,838 shares of the stock traded hands. The company has a 50-day moving average price of $39.63 and a 200-day moving average price of $39.59. IMPINJ Inc has a 1-year low of $23.55 and a 1-year high of $60.85. The firm’s market cap is $807.28 million.
IMPINJ (NYSE:PI) last posted its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 2.86% and a negative return on equity of 3.11%. The company’s revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. Analysts predict that IMPINJ Inc will post $0.05 EPS for the current year.
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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