Raymond James & Associates Boosts Stock Position in Impinj, Inc. (NASDAQ:PI)

Raymond James & Associates lifted its position in Impinj, Inc. (NASDAQ:PI) by 21.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,951 shares of the company’s stock after acquiring an additional 4,090 shares during the period. Raymond James & Associates owned 0.08% of Impinj worth $4,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in shares of Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after buying an additional 190 shares during the period. Rhumbline Advisers lifted its position in Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after acquiring an additional 248 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj during the 3rd quarter worth approximately $54,000. Arizona State Retirement System increased its stake in Impinj by 4.1% in the 2nd quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock valued at $1,032,000 after purchasing an additional 261 shares in the last quarter. Finally, USA Financial Formulas increased its stake in Impinj by 82.0% in the 3rd quarter. USA Financial Formulas now owns 657 shares of the company’s stock valued at $142,000 after purchasing an additional 296 shares in the last quarter.

Impinj Stock Performance

PI stock opened at $194.71 on Friday. Impinj, Inc. has a 52-week low of $62.84 and a 52-week high of $239.88. The business has a 50-day simple moving average of $199.89 and a two-hundred day simple moving average of $171.53. The company has a market capitalization of $5.51 billion, a P/E ratio of 218.78 and a beta of 1.80.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. Impinj’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.36) EPS. As a group, sell-side analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Llc sold 32,031 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $195.35, for a total value of $6,257,255.85. Following the completion of the sale, the insider now owns 3,021,548 shares in the company, valued at approximately $590,259,401.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Impinj news, major shareholder Sylebra Capital Llc sold 32,031 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total value of $6,257,255.85. Following the transaction, the insider now owns 3,021,548 shares in the company, valued at approximately $590,259,401.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the transaction, the chief executive officer now owns 292,532 shares in the company, valued at $61,174,291.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,284 shares of company stock worth $19,783,007. Company insiders own 51.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PI shares. Lake Street Capital boosted their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Evercore ISI restated an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Susquehanna raised their target price on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Finally, Cantor Fitzgerald raised their price objective on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.