16,819 Shares in IMPINJ Inc (PI) Acquired by Redmond Asset Management LLC
Redmond Asset Management LLC bought a new stake in IMPINJ Inc (NYSE:PI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 16,819 shares of the company’s stock, valued at approximately $700,000. Redmond Asset Management LLC owned approximately 0.08% of IMPINJ at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its position in shares of IMPINJ by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after acquiring an additional 1,942 shares in the last quarter. Turner Investments LLC purchased a new position in IMPINJ during the second quarter worth approximately $146,000. PNC Financial Services Group Inc. lifted its position in IMPINJ by 95.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock worth $176,000 after buying an additional 1,765 shares in the last quarter. First Mercantile Trust Co. purchased a new position in IMPINJ during the second quarter worth approximately $178,000. Finally, American International Group Inc. purchased a new position in IMPINJ during the first quarter worth approximately $112,000.
A number of equities analysts recently commented on the company. Zacks Investment Research downgraded IMPINJ from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 7th. KeyCorp reiterated a “hold” rating on shares of IMPINJ in a research report on Friday, November 3rd. Dougherty & Co reduced their price objective on IMPINJ from $62.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Morgan Stanley reduced their price objective on IMPINJ from $37.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective (down previously from $45.00) on shares of IMPINJ in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. IMPINJ presently has an average rating of “Hold” and a consensus target price of $36.67.
In other IMPINJ news, insider Eric Brodersen sold 7,000 shares of IMPINJ stock in a transaction on Friday, October 13th. The stock was sold at an average price of $36.85, for a total value of $257,950.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Evan Fein sold 9,000 shares of IMPINJ stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.00, for a total value of $342,000.00. Following the completion of the sale, the chief financial officer now owns 15,300 shares in the company, valued at approximately $581,400. The disclosure for this sale can be found here. Insiders sold 37,000 shares of company stock worth $1,392,420 in the last 90 days.
IMPINJ Inc (NYSE:PI) traded down $0.81 during trading hours on Monday, reaching $25.63. The company’s stock had a trading volume of 577,509 shares, compared to its average volume of 782,114. IMPINJ Inc has a 12 month low of $19.97 and a 12 month high of $60.85.
IMPINJ (NYSE:PI) last posted its earnings results on Wednesday, November 1st. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.04). IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The business had revenue of $32.60 million during the quarter, compared to analysts’ expectations of $32.58 million. During the same quarter in the prior year, the firm earned $0.10 EPS. IMPINJ’s revenue for the quarter was up 5.2% compared to the same quarter last year.
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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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