Janney Montgomery Scott LLC Takes Position in Impinj, Inc. (NASDAQ:PI)

Janney Montgomery Scott LLC bought a new stake in Impinj, Inc. (NASDAQ:PI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,206 shares of the company’s stock, valued at approximately $1,777,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after purchasing an additional 35,893 shares during the period. Assenagon Asset Management S.A. bought a new position in Impinj during the second quarter worth about $103,252,000. Janus Henderson Group PLC boosted its position in Impinj by 0.6% during the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock worth $56,376,000 after purchasing an additional 2,681 shares during the period. Renaissance Technologies LLC bought a new position in Impinj during the second quarter worth about $30,116,000. Finally, Emerald Advisers LLC boosted its position in Impinj by 2.8% during the second quarter. Emerald Advisers LLC now owns 168,597 shares of the company’s stock worth $26,431,000 after purchasing an additional 4,608 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Evercore ISI reiterated an “outperform” rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Needham & Company LLC increased their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Roth Mkm increased their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group increased their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Insider Activity at Impinj

In other Impinj news, insider Cathal G. Phelan sold 677 shares of Impinj stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $162.46, for a total transaction of $109,985.42. Following the transaction, the insider now directly owns 17,367 shares of the company’s stock, valued at approximately $2,821,442.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Impinj news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Cathal G. Phelan sold 677 shares of Impinj stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $162.46, for a total transaction of $109,985.42. Following the transaction, the insider now directly owns 17,367 shares in the company, valued at $2,821,442.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 646,301 shares of company stock valued at $129,876,220 over the last three months. 51.00% of the stock is owned by corporate insiders.

Impinj Price Performance

Shares of PI opened at $185.76 on Thursday. The firm’s 50 day simple moving average is $204.57 and its 200 day simple moving average is $175.63. The company has a market capitalization of $5.25 billion, a P/E ratio of 208.72 and a beta of 1.81. Impinj, Inc. has a 1-year low of $75.83 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. Impinj’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period last year, the firm posted ($0.36) earnings per share. On average, equities analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

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.