Oppenheimer & Co. Inc. Invests $225,000 in IMPINJ Inc (PI) Stock
Oppenheimer & Co. Inc. acquired a new position in shares of IMPINJ Inc (NASDAQ:PI) in the 4th quarter, HoldingsChannel reports. The fund acquired 9,971 shares of the company’s stock, valued at approximately $225,000.
Other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in shares of IMPINJ by 66.5% during the 3rd quarter. Wells Fargo & Company MN now owns 28,463 shares of the company’s stock worth $1,184,000 after acquiring an additional 11,365 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of IMPINJ during the 3rd quarter worth about $1,453,000. Voya Investment Management LLC acquired a new position in shares of IMPINJ during the 2nd quarter worth about $406,000. Stifel Financial Corp acquired a new position in shares of IMPINJ during the 3rd quarter worth about $269,000. Finally, Taylor Frigon Capital Management LLC acquired a new position in shares of IMPINJ during the 4th quarter worth about $2,056,000. 74.84% of the stock is owned by institutional investors and hedge funds.
Shares of IMPINJ Inc (PI) opened at $12.84 on Friday. The stock has a market capitalization of $275.54 and a PE ratio of -15.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.49 and a quick ratio of 4.97. IMPINJ Inc has a 1 year low of $9.95 and a 1 year high of $60.85.
Several research analysts have recently issued reports on PI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective (down from $45.00) on shares of IMPINJ in a research report on Thursday, November 2nd. Zacks Investment Research cut IMPINJ from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 7th. BidaskClub cut IMPINJ from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Morgan Stanley decreased their target price on IMPINJ from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 13th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $35.00 target price (down from $50.00) on shares of IMPINJ in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.29.
In related news, EVP Jeffrey Dossett acquired 8,000 shares of IMPINJ stock in a transaction on Wednesday, February 21st. The stock was purchased at an average cost of $12.75 per share, with a total value of $102,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Evan Fein sold 3,300 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $25.19, for a total value of $83,127.00. Following the sale, the chief financial officer now directly owns 15,100 shares of the company’s stock, valued at $380,369. The disclosure for this sale can be found here. 15.20% of the stock is owned by corporate insiders.
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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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