Cibc World Markets Corp Invests $312,000 in Impinj, Inc. (NASDAQ:PI)

Cibc World Markets Corp acquired a new position in shares of Impinj, Inc. (NASDAQ:PI) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,145 shares of the company’s stock, valued at approximately $312,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PI. Royce & Associates LP grew its holdings in Impinj by 5.3% in the 4th quarter. Royce & Associates LP now owns 208,864 shares of the company’s stock valued at $30,340,000 after buying an additional 10,594 shares during the last quarter. Swiss National Bank boosted its position in shares of Impinj by 2.0% in the fourth quarter. Swiss National Bank now owns 47,000 shares of the company’s stock valued at $6,827,000 after acquiring an additional 900 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Impinj by 77.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,391 shares of the company’s stock worth $9,063,000 after acquiring an additional 27,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Impinj by 17.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,329 shares of the company’s stock worth $919,000 after acquiring an additional 923 shares during the period. Finally, AlphaQuest LLC raised its stake in Impinj by 57.5% during the 4th quarter. AlphaQuest LLC now owns 1,482 shares of the company’s stock valued at $215,000 after purchasing an additional 541 shares during the last quarter.

Impinj Stock Performance

PI opened at $91.14 on Tuesday. The firm’s 50-day simple moving average is $109.21 and its 200-day simple moving average is $159.00. Impinj, Inc. has a twelve month low of $84.17 and a twelve month high of $239.88. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 67.01 and a beta of 1.98.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. As a group, sell-side analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Impinj

In related news, CFO Cary Baker sold 290 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $140.96, for a total value of $40,878.40. Following the completion of the transaction, the chief financial officer now owns 71,754 shares in the company, valued at $10,114,443.84. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 841 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $141.02, for a total value of $118,597.82. Following the completion of the transaction, the chief executive officer now owns 333,856 shares in the company, valued at $47,080,373.12. The trade was a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,704 shares of company stock worth $1,925,748. 51.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on PI. Susquehanna cut their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Cantor Fitzgerald upgraded Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Needham & Company LLC reduced their target price on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $183.44.

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.