Atria Wealth Solutions Inc. Invests $279,000 in Impinj, Inc. (NASDAQ:PI)

Atria Wealth Solutions Inc. purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,100 shares of the company’s stock, valued at approximately $279,000.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of Impinj in the fourth quarter valued at about $40,000. Whittier Trust Co. acquired a new stake in shares of Impinj during the 4th quarter valued at approximately $90,000. Avitas Wealth Management LLC purchased a new stake in shares of Impinj during the 4th quarter worth approximately $238,000. Griffin Asset Management Inc. acquired a new stake in shares of Impinj in the 4th quarter worth approximately $261,000. Finally, Telemus Capital LLC acquired a new stake in shares of Impinj in the 4th quarter worth approximately $298,000.

Impinj Stock Performance

NASDAQ:PI opened at $163.77 on Thursday. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87. The firm has a market cap of $4.54 billion, a PE ratio of -467.91 and a beta of 1.85. The firm has a 50 day simple moving average of $128.57 and a 200-day simple moving average of $101.32. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $167.45.

Impinj (NASDAQ:PI) last issued its quarterly earnings results 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. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The company had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. On average, equities analysts expect that Impinj, Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling

In related news, CFO Cary Baker sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $159.08, for a total value of $1,590,800.00. Following the sale, the chief financial officer now directly owns 67,948 shares of the company’s stock, valued at $10,809,167.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Cary Baker sold 10,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $159.08, for a total transaction of $1,590,800.00. Following the completion of the sale, the chief financial officer now directly owns 67,948 shares in the company, valued at approximately $10,809,167.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Chris Ph.D. Diorio sold 16,060 shares of Impinj stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $101.16, for a total value of $1,624,629.60. Following the completion of the transaction, the chief executive officer now owns 278,863 shares in the company, valued at approximately $28,209,781.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 183,321 shares of company stock worth $22,221,714. 51.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PI has been the topic of a number of research analyst reports. Needham & Company LLC boosted their target price on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Evercore ISI began coverage on shares of Impinj in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price objective on the stock. Susquehanna raised their target price on shares of Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a report on Tuesday, April 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price target (up previously from $130.00) on shares of Impinj in a report on Thursday, April 25th. Finally, Roth Mkm raised their price objective on shares of Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. 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. Based on data from MarketBeat.com, Impinj currently has a consensus rating of “Moderate Buy” and an average target price of $132.89.

Impinj Company Profile

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.