Amalgamated Bank Raises Stock Position in Impinj, Inc. (NASDAQ:PI)

Amalgamated Bank increased its position in Impinj, Inc. (NASDAQ:PI) by 718.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,702 shares of the company’s stock after acquiring an additional 5,883 shares during the period. Amalgamated Bank’s holdings in Impinj were worth $1,451,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PI. Farther Finance Advisors LLC boosted its stake in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Impinj during the third quarter valued at $54,000. SouthState Corp purchased a new position in Impinj during the second quarter valued at $94,000. nVerses Capital LLC grew its holdings in Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares during the period. Finally, Jamison Private Wealth Management Inc. increased its position in Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after buying an additional 549 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Needham & Company LLC upped their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Susquehanna upped their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. Evercore ISI restated an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $224.60.

Impinj Stock Down 4.6 %

NASDAQ PI opened at $185.76 on Thursday. Impinj, Inc. has a 52 week low of $75.83 and a 52 week high of $239.88. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 208.72 and a beta of 1.81. The company has a fifty day moving average of $204.57 and a two-hundred day moving average of $175.63.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same quarter in the previous year, the business earned ($0.36) earnings per share. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. Equities research analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current year.

Insider Buying and Selling at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the stock in a transaction dated Friday, September 13th. The stock was purchased at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Impinj news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 677 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $162.46, for a total value of $109,985.42. Following the sale, the insider now owns 17,367 shares in the company, valued at $2,821,442.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 646,301 shares of company stock valued at $129,876,220 in the last three months. Company insiders own 51.00% of the company’s stock.

About Impinj

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.