Raymond James Financial Inc. Takes Position in Impinj, Inc. (NASDAQ:PI)

Raymond James Financial Inc. bought a new stake in Impinj, Inc. (NASDAQ:PI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 190,685 shares of the company's stock, valued at approximately $27,699,000. Raymond James Financial Inc. owned about 0.67% of Impinj at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new stake in shares of Impinj during the 3rd quarter worth $30,000. SBI Securities Co. Ltd. acquired a new stake in Impinj during the fourth quarter worth about $33,000. Jones Financial Companies Lllp raised its holdings in shares of Impinj by 205.9% in 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 during the period. IFP Advisors Inc raised its holdings in shares of Impinj by 116.5% in the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after purchasing an additional 198 shares during the period. Finally, Spire Wealth Management acquired a new position in shares of Impinj in the 4th quarter valued at about $87,000.

Insider Transactions at Impinj

In other news, CFO Cary Baker sold 1,553 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now directly owns 76,451 shares in the company, valued at $7,550,300.76. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total value of $823,232.52. Following the sale, the chief executive officer now directly owns 354,076 shares in the company, valued at approximately $34,975,627.28. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,857 shares of company stock worth $1,665,290. Company insiders own 51.00% of the company's stock.

Impinj Trading Up 7.9 %

PI traded up $5.86 during trading on Wednesday, reaching $80.15. 263,606 shares of the company were exchanged, compared to its average volume of 587,129. The stock has a market cap of $2.29 billion, a P/E ratio of 58.93 and a beta of 1.74. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88. The firm has a 50 day moving average of $86.30 and a 200 day moving average of $139.98.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. As a group, analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PI. Needham & Company LLC lowered their price target on Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, February 6th. The Goldman Sachs Group dropped their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Piper Sandler reduced their target price on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Susquehanna cut their price objective on shares of Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a report on Wednesday, January 22nd. 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $179.00.

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.