GAMMA Investing LLC Takes $40,000 Position in Impinj, Inc. (NASDAQ:PI)

GAMMA Investing LLC acquired a new stake in shares of Impinj, Inc. (NASDAQ:PI) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 414 shares of the company’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in Impinj by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock worth $9,577,000 after purchasing an additional 8,038 shares during the last quarter. Aigen Investment Management LP bought a new stake in Impinj in the third quarter worth $320,000. Telemus Capital LLC bought a new stake in Impinj in the fourth quarter worth $298,000. FMR LLC increased its position in Impinj by 0.8% in the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after purchasing an additional 31,289 shares during the last quarter. Finally, AWM Investment Company Inc. increased its position in Impinj by 9.5% in the third quarter. AWM Investment Company Inc. now owns 365,428 shares of the company’s stock worth $20,110,000 after purchasing an additional 31,556 shares during the last quarter.

Insider Activity at Impinj

In related news, COO Hussein Mecklai sold 30,000 shares of Impinj stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the sale, the chief operating officer now directly owns 40,489 shares in the company, valued at $4,243,247.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Impinj news, COO Hussein Mecklai sold 30,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the transaction, the chief operating officer now directly owns 40,489 shares in the company, valued at $4,243,247.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Cary Baker sold 306 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $123.55, for a total transaction of $37,806.30. Following the completion of the sale, the chief financial officer now owns 65,748 shares in the company, valued at $8,123,165.40. The disclosure for this sale can be found here. Insiders sold 183,321 shares of company stock worth $22,221,714 over the last three months. 17.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PI has been the topic of several research reports. Roth Mkm boosted their price target on shares of Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Needham & Company LLC lifted their price objective on shares of Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Evercore ISI assumed coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of Impinj from $130.00 to $156.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Canaccord Genuity Group lifted their price objective on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.89.

Impinj Stock Up 0.9 %

Shares of PI opened at $161.23 on Friday. The firm has a market capitalization of $4.47 billion, a P/E ratio of -460.66 and a beta of 1.85. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $163.45. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. The firm has a fifty day moving average price of $124.94 and a 200-day moving average price of $98.96.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.14. The firm had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Equities research analysts expect that Impinj, Inc. will post -0.62 earnings per share for the current year.

About Impinj

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.