JPMorgan Chase & Co. Has $19.63 Million Stake in IMPINJ Inc (PI)
JPMorgan Chase & Co. cut its stake in shares of IMPINJ Inc (NYSE:PI) by 30.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 403,481 shares of the company’s stock after selling 173,150 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.93% of IMPINJ worth $19,630,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its position in shares of IMPINJ by 1,261.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after buying an additional 1,942 shares in the last quarter. American International Group Inc. acquired a new position in shares of IMPINJ during the first quarter worth about $112,000. Nordea Investment Management AB acquired a new position in shares of IMPINJ during the first quarter worth about $127,000. ClariVest Asset Management LLC acquired a new position in shares of IMPINJ during the first quarter worth about $127,000. Finally, Turner Investments LLC acquired a new position in shares of IMPINJ during the second quarter worth about $146,000.
IMPINJ Inc (NYSE PI) opened at 40.47 on Friday. IMPINJ Inc has a one year low of $23.55 and a one year high of $41.91. The firm’s market capitalization is $844.20 million. The company has a 50-day moving average price of $38.99 and a 200-day moving average price of $38.99.
IMPINJ (NYSE:PI) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $33.41 million. During the same period in the previous year, the business earned $0.06 EPS. IMPINJ’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities research analysts anticipate that IMPINJ Inc will post $0.05 EPS for the current year.
In other IMPINJ news, COO Eric Brodersen sold 3,500 shares of IMPINJ stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $53.21, for a total transaction of $186,235.00. Following the sale, the chief operating officer now directly owns 106,743 shares in the company, valued at approximately $5,679,795.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Evan Fein sold 9,000 shares of IMPINJ stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.00, for a total value of $342,000.00. Following the sale, the chief financial officer now owns 15,300 shares in the company, valued at $581,400. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock worth $1,276,605 over the last 90 days.
PI has been the subject of a number of analyst reports. Zacks Investment Research downgraded IMPINJ from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada reissued an “outperform” rating on shares of IMPINJ in a research report on Saturday, July 22nd. Needham & Company LLC upped their price target on IMPINJ from $40.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. KeyCorp downgraded IMPINJ to a “hold” rating in a report on Tuesday, June 27th. Finally, Dougherty & Co assumed coverage on IMPINJ in a report on Wednesday, August 23rd. They issued a “buy” rating and a $62.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $47.63.
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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