Raymond James & Associates Buys 4,090 Shares of Impinj, Inc. (NASDAQ:PI)

Raymond James & Associates boosted its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 21.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,951 shares of the company's stock after acquiring an additional 4,090 shares during the quarter. Raymond James & Associates owned 0.08% of Impinj worth $4,969,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Impinj during the 1st quarter valued at about $513,000. TimesSquare Capital Management LLC acquired a new stake in shares of Impinj during the 1st quarter valued at about $19,195,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Impinj by 112.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company's stock valued at $2,122,000 after buying an additional 7,151 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Impinj by 13.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company's stock valued at $7,990,000 after buying an additional 7,247 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Impinj by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company's stock valued at $322,384,000 after buying an additional 35,893 shares during the last quarter.

Analysts Set New Price Targets

PI has been the subject of several research reports. Susquehanna lifted their price target on Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a report on Monday, October 21st. Evercore ISI reissued an "outperform" rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. The Goldman Sachs Group raised their price objective on Impinj from $165.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Roth Mkm raised their price objective on Impinj from $145.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Finally, StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. 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 stock. According to data from MarketBeat.com, Impinj has an average rating of "Moderate Buy" and an average target price of $224.60.

Impinj Trading Up 2.5 %

PI stock traded up $4.72 during trading on Friday, hitting $194.71. The company had a trading volume of 340,252 shares, compared to its average volume of 593,066. The company has a fifty day moving average price of $199.89 and a two-hundred day moving average price of $171.88. The company has a market cap of $5.51 billion, a P/E ratio of 218.78 and a beta of 1.82. Impinj, Inc. has a fifty-two week low of $62.84 and a fifty-two week high of $239.88.

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 the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. Impinj's quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.36) EPS. On average, analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of Impinj stock in a transaction on Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the business's stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the purchase, the insider now directly owns 33,050,456 shares of the company's stock, valued at $155,006,638.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jeffrey Dossett sold 488 shares of the company's stock in a transaction on 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 in the company, valued at $15,529,524.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,284 shares of company stock valued at $19,783,007. 51.00% of the stock is currently owned by corporate 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.