First Washington CORP Continues to Hold Stake in IMPINJ Inc (PI)

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.

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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 Profile

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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