Proficio Capital Partners LLC Takes Position in Impinj, Inc. (NASDAQ:PI)

Proficio Capital Partners LLC purchased a new position in Impinj, Inc. (NASDAQ:PI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,185 shares of the company's stock, valued at approximately $1,625,000.

Other hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new position in Impinj in the third quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in Impinj during the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp grew its position in Impinj by 205.9% during the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after purchasing an additional 175 shares in the last quarter. IFP Advisors Inc grew its position in Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after purchasing an additional 198 shares in the last quarter. Finally, Spire Wealth Management purchased a new position in Impinj during the 4th quarter worth approximately $87,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PI shares. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Cantor Fitzgerald upgraded shares of Impinj to a "strong-buy" rating in a research report on Thursday, February 27th. Susquehanna lowered their price objective on shares of Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. Needham & Company LLC lowered their price objective on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group lowered their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Impinj has an average rating of "Moderate Buy" and a consensus target price of $183.44.

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Impinj Price Performance

Shares of PI stock traded up $0.20 on Friday, hitting $90.25. The company's stock had a trading volume of 588,976 shares, compared to its average volume of 528,633. Impinj, Inc. has a fifty-two week low of $84.17 and a fifty-two week high of $239.88. The firm's fifty day moving average price is $110.31 and its 200-day moving average price is $159.56. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 66.36 and a beta of 1.98.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (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%. Analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Insider Activity at Impinj

In other Impinj news, CFO Cary Baker sold 499 shares of the business's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $72,883.94. Following the completion of the transaction, the chief financial officer now owns 71,107 shares of the company's stock, valued at $10,385,888.42. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the transaction, the chief executive officer now directly owns 354,076 shares of the company's stock, valued at approximately $34,975,627.28. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,323 shares of company stock valued at $2,454,588. Insiders own 51.00% of the company's stock.

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.