American International Group Inc. Takes Position in IMPINJ Inc (NYSE:PI)
American International Group Inc. acquired a new stake in IMPINJ Inc (NYSE:PI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,707 shares of the company’s stock, valued at approximately $112,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PI. First Washington CORP bought a new stake in shares of IMPINJ during the first quarter worth about $122,000. Nordea Investment Management AB bought a new stake in shares of IMPINJ during the first quarter worth about $127,000. Monarch Partners Asset Management LLC bought a new stake in shares of IMPINJ during the first quarter worth about $219,000. Capital Asset Advisory Services LLC raised its stake in shares of IMPINJ by 25.8% in the first quarter. Capital Asset Advisory Services LLC now owns 7,310 shares of the company’s stock worth $221,000 after buying an additional 1,500 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of IMPINJ during the first quarter worth about $245,000.
Shares of IMPINJ Inc (PI) opened at 36.57 on Thursday. The stock’s market capitalization is $762.78 million. IMPINJ Inc has a 1-year low of $19.55 and a 1-year high of $60.85. The company has a 50-day moving average of $50.43 and a 200-day moving average of $39.56.
IMPINJ (NYSE:PI) last announced its earnings results on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The company had revenue of $34.10 million during the quarter, compared to analysts’ expectations of $33.41 million. During the same period last year, the business posted $0.06 EPS. IMPINJ’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities research analysts expect that IMPINJ Inc will post $0.06 EPS for the current fiscal year.
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A number of analysts have recently issued reports on PI shares. Zacks Investment Research raised shares of IMPINJ from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, April 25th. Canaccord Genuity reissued a “buy” rating and set a $38.00 target price on shares of IMPINJ in a research note on Friday, May 12th. Needham & Company LLC boosted their target price on shares of IMPINJ from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Morgan Stanley lowered shares of IMPINJ from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $40.00 to $51.00 in a research note on Monday, June 19th. Finally, KeyCorp lowered shares of IMPINJ to a “hold” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $43.63.
In related news, Director Oppen Peter H. Van sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $39.25, for a total transaction of $981,250.00. Following the completion of the transaction, the director now directly owns 80,595 shares in the company, valued at approximately $3,163,353.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Brodersen sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $53.23, for a total value of $372,610.00. Following the transaction, the insider now owns 106,743 shares of the company’s stock, valued at $5,681,929.89. The disclosure for this sale can be found here. Insiders have sold a total of 85,666 shares of company stock valued at $3,857,412 over the last 90 days.
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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