National Bank of Canada FI Invests $30,000 in Impinj, Inc. (NASDAQ:PI)

National Bank of Canada FI purchased a new stake in Impinj, Inc. (NASDAQ:PI) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 137 shares of the company’s stock, valued at approximately $30,000.

A number of other large investors have also recently bought and sold shares of PI. Wealth Enhancement Advisory Services LLC acquired a new position in Impinj in the second quarter valued at $566,000. Raymond James & Associates increased its position in Impinj by 30.2% in the 2nd quarter. Raymond James & Associates now owns 18,861 shares of the company’s stock valued at $2,957,000 after acquiring an additional 4,373 shares during the period. Bank of New York Mellon Corp raised its stake in Impinj by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 121,159 shares of the company’s stock valued at $18,994,000 after acquiring an additional 7,496 shares during the last quarter. K.J. Harrison & Partners Inc lifted its position in Impinj by 102.6% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 23,700 shares of the company’s stock worth $3,715,000 after acquiring an additional 12,000 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in shares of Impinj by 79.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 66,361 shares of the company’s stock valued at $10,403,000 after purchasing an additional 29,299 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PI shares. Piper Sandler restated an “overweight” rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Susquehanna raised their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Cantor Fitzgerald boosted their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group boosted their target price on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Impinj Price Performance

NASDAQ PI opened at $141.81 on Thursday. The business has a 50 day moving average price of $192.37 and a 200 day moving average price of $177.56. The company has a market capitalization of $4.01 billion, a P/E ratio of 159.34 and a beta of 1.80. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings results 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. 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 analysts’ expectations of $92.86 million. During the same quarter last year, the business posted ($0.36) earnings per share. The business’s revenue for the quarter was up 46.5% on a year-over-year basis. On average, research analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In related news, CFO Cary Baker sold 496 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the transaction, the chief financial officer now owns 70,524 shares of the company’s stock, valued at approximately $14,751,505.08. The trade was a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 209 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the transaction, the insider now owns 17,647 shares in the company, valued at approximately $3,690,870.05. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 655,674 shares of company stock valued at $131,623,305 over the last quarter. Corporate insiders own 51.00% of the company’s stock.

Impinj 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.