Janney Montgomery Scott LLC Makes New $1.78 Million Investment in Impinj, Inc. (NASDAQ:PI)

Janney Montgomery Scott LLC purchased a new position in Impinj, Inc. (NASDAQ:PI - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,206 shares of the company's stock, valued at approximately $1,777,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new stake in shares of Impinj in the 2nd quarter worth about $103,252,000. Renaissance Technologies LLC purchased a new stake in Impinj in the 2nd quarter valued at $30,116,000. Lord Abbett & CO. LLC bought a new position in Impinj during the 1st quarter valued at $9,659,000. AXA S.A. purchased a new position in Impinj during the 2nd quarter worth $11,574,000. Finally, Squarepoint Ops LLC grew its stake in shares of Impinj by 501.9% in the 2nd quarter. Squarepoint Ops LLC now owns 69,232 shares of the company's stock worth $10,854,000 after acquiring an additional 57,730 shares in the last quarter.

Impinj Stock Performance

NASDAQ PI traded down $3.03 during trading on Thursday, hitting $182.73. 451,911 shares of the company's stock traded hands, compared to its average volume of 473,672. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 202.19 and a beta of 1.81. Impinj, Inc. has a 12-month low of $78.17 and a 12-month high of $239.88. The business has a 50 day moving average of $204.99 and a 200-day moving average of $175.70.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company had revenue of $95.20 million for the quarter, compared to analysts' expectations of $92.86 million. During the same period in the prior year, the company posted ($0.36) EPS. Impinj's revenue was up 46.5% compared to the same quarter last year. On average, analysts expect that Impinj, Inc. will post 0.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Cantor Fitzgerald boosted their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Roth Mkm boosted their target price on Impinj from $145.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Susquehanna increased their price target on Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a research report on Monday, October 21st. The Goldman Sachs Group boosted their price objective on Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Finally, StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Impinj presently has a consensus rating of "Moderate Buy" and an average price target of $224.60.

Insider Activity at Impinj

In other Impinj news, CRO Jeffrey Dossett sold 577 shares of the business's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.20, for a total value of $120,708.40. Following the transaction, the executive now owns 64,532 shares in the company, valued at approximately $13,500,094.40. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company's stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares of the company's stock, valued at $155,006,638.64. This trade represents a 14.81 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 656,351 shares of company stock worth $131,733,291. 51.00% of the stock is owned by company insiders.

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.