Amalgamated Bank Has $1.45 Million Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Amalgamated Bank raised its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 718.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,702 shares of the company's stock after buying an additional 5,883 shares during the quarter. Amalgamated Bank's holdings in Impinj were worth $1,451,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Impinj in the first quarter worth $513,000. Harbor Capital Advisors Inc. raised its position in Impinj by 112.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company's stock worth $2,122,000 after purchasing an additional 7,151 shares in the last quarter. Raymond James & Associates lifted its stake in Impinj by 21.7% during the third quarter. Raymond James & Associates now owns 22,951 shares of the company's stock worth $4,969,000 after purchasing an additional 4,090 shares during the period. New York State Teachers Retirement System acquired a new stake in Impinj during the third quarter valued at approximately $1,126,000. Finally, Vanguard Group Inc. grew its stake in shares of Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company's stock valued at $322,384,000 after purchasing an additional 35,893 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PI. Piper Sandler reiterated an "overweight" rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Evercore ISI reissued an "outperform" rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Susquehanna increased their price target on Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their price objective on Impinj from $165.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Finally, Cantor Fitzgerald increased their target price on Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $224.60.

Impinj Stock Down 1.9 %

Shares of PI stock traded down $3.60 during trading on Thursday, reaching $182.16. The company's stock had a trading volume of 281,093 shares, compared to its average volume of 472,810. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 202.19 and a beta of 1.81. Impinj, Inc. has a one year low of $78.17 and a one year high of $239.88. The business has a fifty day moving average price of $204.99 and a 200-day moving average price of $175.70.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same quarter in the previous year, the firm earned ($0.36) EPS. The business's quarterly revenue was up 46.5% on a year-over-year basis. Research analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current year.

Insider Buying and Selling

In other news, CRO Jeffrey Dossett sold 488 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.84, for a total value of $116,065.92. Following the transaction, the executive now directly owns 65,294 shares of the company's stock, valued at $15,529,524.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now directly owns 33,050,456 shares of the company's stock, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Jeffrey Dossett sold 488 shares of the business's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.84, for a total transaction of $116,065.92. Following the completion of the sale, the executive now directly owns 65,294 shares of the company's stock, valued at approximately $15,529,524.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 646,301 shares of company stock valued at $129,876,220. 51.00% of the stock is owned by insiders.

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.