Kennedy Capital Management LLC Reduces Position in Impinj, Inc. (NASDAQ:PI)

Kennedy Capital Management LLC lessened its stake in shares of Impinj, Inc. (NASDAQ:PI) by 33.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,673 shares of the company’s stock after selling 20,079 shares during the period. Kennedy Capital Management LLC owned 0.15% of Impinj worth $5,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PI. Charles Schwab Investment Management Inc. boosted its position in shares of Impinj by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock worth $16,282,000 after purchasing an additional 6,810 shares during the period. K.J. Harrison & Partners Inc purchased a new stake in shares of Impinj in the 4th quarter valued at $1,458,000. Ghisallo Capital Management LLC acquired a new position in Impinj during the 4th quarter worth about $4,192,000. Eagle Asset Management Inc. boosted its holdings in Impinj by 19.6% during the 4th quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after acquiring an additional 33,504 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Impinj in the 1st quarter valued at about $513,000.

Insider Transactions at Impinj

In other Impinj news, COO Hussein Mecklai sold 416 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $175.43, for a total value of $72,978.88. Following the sale, the chief operating officer now owns 58,104 shares in the company, valued at $10,193,184.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Hussein Mecklai sold 416 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $175.43, for a total value of $72,978.88. Following the completion of the transaction, the chief operating officer now owns 58,104 shares of the company’s stock, valued at $10,193,184.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Cary Baker sold 10,000 shares of Impinj stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $159.08, for a total transaction of $1,590,800.00. Following the sale, the chief financial officer now owns 67,948 shares in the company, valued at $10,809,167.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,044,835 shares of company stock worth $160,037,537. Insiders own 51.00% of the company’s stock.

Analyst Ratings Changes

PI has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $195.00 price objective on shares of Impinj in a report on Thursday, July 25th. Roth Mkm lifted their target price on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Susquehanna lifted their price objective on Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Jefferies Financial Group began coverage on shares of Impinj in a report on Monday, May 13th. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $205.00 price target on shares of Impinj in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.10.

Impinj Trading Down 0.1 %

NASDAQ PI traded down $0.17 on Wednesday, hitting $156.25. 56,499 shares of the stock traded hands, compared to its average volume of 436,971. The stock has a 50-day moving average of $160.34 and a 200 day moving average of $135.75. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $181.88. The company has a market capitalization of $4.39 billion, a P/E ratio of -446.91 and a beta of 1.78.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. During the same period in the prior year, the company earned ($0.14) earnings per share. The firm’s revenue was up 19.2% compared to the same quarter last year. As a group, equities research analysts expect that Impinj, Inc. will post 0.31 earnings per share for the current year.

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.