IMPINJ (NASDAQ:PI) Trading Up 0.6%

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Shares of IMPINJ Inc (NASDAQ:PI) were up 0.6% during mid-day trading on Wednesday . The stock traded as high as $17.01 and last traded at $16.43, approximately 21,148 shares changed hands during trading. A decline of 97% from the average daily volume of 718,998 shares. The stock had previously closed at $16.34.

Several equities research analysts have issued reports on PI shares. Needham & Company LLC cut their price objective on shares of IMPINJ from $33.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. TheStreet cut shares of IMPINJ from a “c-” rating to a “d+” rating in a research note on Tuesday, December 31st. Royal Bank of Canada decreased their target price on shares of IMPINJ from $36.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 4th. ValuEngine raised shares of IMPINJ from a “sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, BidaskClub raised shares of IMPINJ from a “sell” rating to a “hold” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. IMPINJ currently has a consensus rating of “Buy” and a consensus target price of $31.14.

The company has a quick ratio of 7.31, a current ratio of 9.07 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $362.16 million, a PE ratio of -15.76 and a beta of 2.16. The firm’s fifty day simple moving average is $25.93 and its 200-day simple moving average is $29.90.

IMPINJ (NASDAQ:PI) last released its quarterly earnings data on Monday, March 2nd. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. IMPINJ had a negative net margin of 15.04% and a negative return on equity of 6.54%. The firm had revenue of $40.82 million during the quarter, compared to analysts’ expectations of $38.10 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, analysts predict that IMPINJ Inc will post -1.2 earnings per share for the current year.

In related news, Director Daniel Patrick Gibson acquired 48,857 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $18.21 per share, with a total value of $889,685.97. Following the transaction, the director now directly owns 4,754 shares of the company’s stock, valued at approximately $86,570.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Dossett sold 1,467 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $21.01, for a total transaction of $30,821.67. Following the completion of the transaction, the executive vice president now directly owns 14,000 shares of the company’s stock, valued at $294,140. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 105,485 shares of company stock worth $2,082,700 and sold 23,294 shares worth $594,958. 28.00% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. raised its stake in shares of IMPINJ by 44.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 981,806 shares of the company’s stock worth $30,269,000 after purchasing an additional 300,788 shares during the last quarter. State Street Corp boosted its stake in shares of IMPINJ by 58.6% during the third quarter. State Street Corp now owns 488,619 shares of the company’s stock valued at $15,064,000 after acquiring an additional 180,513 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in IMPINJ by 35.9% in the 4th quarter. Driehaus Capital Management LLC now owns 320,126 shares of the company’s stock worth $8,278,000 after buying an additional 84,488 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in IMPINJ by 29.5% in the 4th quarter. Lord Abbett & CO. LLC now owns 280,289 shares of the company’s stock worth $7,248,000 after buying an additional 63,869 shares during the last quarter. Finally, CNH Partners LLC acquired a new stake in IMPINJ in the 4th quarter worth about $1,398,000. 84.66% of the stock is owned by hedge funds and other institutional investors.

IMPINJ Company Profile (NASDAQ:PI)

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.

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