Baker Avenue Asset Management LP purchased a new stake in IMPINJ Inc (NYSE:PI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,761 shares of the company’s stock, valued at approximately $568,000. Baker Avenue Asset Management LP owned approximately 0.09% of IMPINJ as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in IMPINJ during the fourth quarter valued at approximately $1,712,000. State Street Corp boosted its stake in IMPINJ by 23.5% in the fourth quarter. State Street Corp now owns 86,778 shares of the company’s stock valued at $3,069,000 after buying an additional 16,506 shares in the last quarter. Allianz Asset Management AG boosted its stake in IMPINJ by 22.0% in the fourth quarter. Allianz Asset Management AG now owns 145,258 shares of the company’s stock valued at $5,133,000 after buying an additional 26,193 shares in the last quarter. Castleark Management LLC bought a new stake in IMPINJ during the fourth quarter valued at approximately $4,083,000. Finally, Sandler Capital Management bought a new stake in IMPINJ during the fourth quarter valued at approximately $353,000.
Shares of IMPINJ Inc (NYSE PI) traded down 2.09% during trading on Tuesday, reaching $54.68. 776,876 shares of the company traded hands. The stock’s 50 day moving average price is $43.59 and its 200-day moving average price is $35.26. IMPINJ Inc has a 12 month low of $16.36 and a 12 month high of $57.15. The stock’s market cap is $1.13 billion.
IMPINJ (NYSE:PI) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $31.70 million for the quarter, compared to analyst estimates of $30.81 million. The firm’s quarterly revenue was up 46.8% on a year-over-year basis. On average, equities research analysts expect that IMPINJ Inc will post $0.24 EPS for the current fiscal year.
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Several analysts recently commented on PI shares. Morgan Stanley started coverage on shares of IMPINJ in a report on Thursday, February 23rd. They set an “overweight” rating and a $40.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of IMPINJ in a research report on Thursday, March 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $40.00 price objective on shares of IMPINJ in a research report on Friday, March 31st. Zacks Investment Research raised shares of IMPINJ from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Tuesday, April 25th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 price objective on shares of IMPINJ in a research report on Friday, May 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $41.38.
In other IMPINJ news, CFO Evan Fein sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $53.19, for a total transaction of $531,900.00. Following the completion of the transaction, the chief financial officer now owns 21,100 shares of the company’s stock, valued at approximately $1,122,309. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric Brodersen sold 10,200 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $35.31, for a total value of $360,162.00. Following the transaction, the insider now directly owns 131,143 shares of the company’s stock, valued at approximately $4,630,659.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 107,973 shares of company stock valued at $4,492,352.
IMPINJ Company Profile
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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