Empirical Financial Services LLC trimmed its holdings in shares of IMPINJ Inc (NYSE:PI) by 50.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,249 shares of the company’s stock after selling 8,332 shares during the period. Empirical Financial Services LLC’s holdings in IMPINJ were worth $401,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of PI. BNP Paribas Arbitrage SA boosted its stake in shares of IMPINJ by 1,261.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after buying an additional 1,942 shares during the last quarter. American International Group Inc. bought a new position in IMPINJ in the 1st quarter worth $112,000. First Washington CORP bought a new position in IMPINJ in the 1st quarter worth $122,000. Nordea Investment Management AB bought a new position in IMPINJ in the 1st quarter worth $127,000. Finally, ClariVest Asset Management LLC bought a new position in IMPINJ in the 1st quarter worth $127,000.
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Shares of IMPINJ Inc (NYSE PI) opened at 40.07 on Thursday. The company’s market capitalization is $835.86 million. The stock has a 50 day moving average price of $38.99 and a 200 day moving average price of $38.99. IMPINJ Inc has a one year low of $23.55 and a one year high of $41.91.
IMPINJ (NYSE:PI) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The firm had revenue of $34.10 million during the quarter, compared to analyst estimates of $33.41 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. IMPINJ’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities research analysts predict that IMPINJ Inc will post $0.05 earnings per share for the current year.
In other IMPINJ news, COO Eric Brodersen sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $53.21, for a total transaction of $186,235.00. Following the completion of the sale, the chief operating officer now directly owns 106,743 shares in the company, valued at $5,679,795.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Evan Fein sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.00, for a total transaction of $342,000.00. Following the sale, the chief financial officer now owns 15,300 shares of the company’s stock, valued at $581,400. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock valued at $1,276,605 in the last ninety days.
A number of brokerages recently commented on PI. Zacks Investment Research cut IMPINJ from a “hold” rating to a “strong sell” rating in a report on Thursday, June 29th. KeyCorp reissued a “hold” rating on shares of IMPINJ in a report on Wednesday, August 23rd. Royal Bank Of Canada raised their price target on IMPINJ from $50.00 to $59.00 and gave the company an “outperform” rating in a report on Monday, June 19th. Dougherty & Co began coverage on IMPINJ in a report on Wednesday, August 23rd. They set a “buy” rating and a $62.00 price target on the stock. Finally, Morgan Stanley cut IMPINJ from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $40.00 to $51.00 in a report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. IMPINJ presently has a consensus rating of “Buy” and an average price target of $47.63.
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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