Raymond James Financial Inc. Purchases Shares of 190,685 Impinj, Inc. (NASDAQ:PI)

Raymond James Financial Inc. acquired a new stake in shares of Impinj, Inc. (NASDAQ:PI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 190,685 shares of the company’s stock, valued at approximately $27,699,000. Raymond James Financial Inc. owned 0.67% of Impinj as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. National Bank of Canada FI bought a new stake in Impinj during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC boosted its stake in Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Impinj during the fourth quarter worth $33,000. Jones Financial Companies Lllp increased its stake in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after buying an additional 175 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock valued at $53,000 after buying an additional 198 shares during the last quarter.

Insider Buying and Selling

In other news, CFO Cary Baker sold 1,553 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the sale, the chief financial officer now owns 76,451 shares of the company’s stock, valued at $7,550,300.76. This represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the sale, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,323 shares of company stock valued at $2,454,588. 51.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group dropped their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald upgraded Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Needham & Company LLC decreased their price target on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.44.

Impinj Price Performance

Shares of PI stock opened at $90.34 on Friday. The stock has a market cap of $2.58 billion, a PE ratio of 66.43 and a beta of 1.98. The stock has a 50-day moving average of $116.06 and a 200-day moving average of $162.17. Impinj, Inc. has a one year low of $84.17 and a one year high of $239.88.

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

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.