Jamison Private Wealth Management Inc. Increases Stake in Impinj, Inc. (NASDAQ:PI)

Jamison Private Wealth Management Inc. raised its stake in shares of Impinj, Inc. (NASDAQ:PI) by 211.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 809 shares of the company’s stock after purchasing an additional 549 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Impinj were worth $127,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Impinj by 1.5% during the 1st 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 last quarter. Capital International Investors acquired a new position in shares of Impinj in the 4th quarter valued at about $68,211,000. Janus Henderson Group PLC lifted its holdings in Impinj by 0.6% in the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock worth $56,376,000 after acquiring an additional 2,681 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Impinj by 19.6% during the fourth quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after purchasing an additional 33,504 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Impinj during the 1st quarter worth approximately $25,747,000.

Insider Activity

In related news, CRO Jeffrey Dossett sold 15,000 shares of Impinj stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total value of $2,367,150.00. Following the sale, the executive now owns 63,642 shares of the company’s stock, valued at approximately $10,043,344.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CRO Jeffrey Dossett sold 15,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the completion of the transaction, the executive now directly owns 63,642 shares of the company’s stock, valued at $10,043,344.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cathal G. Phelan sold 212 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $147.52, for a total value of $31,274.24. Following the transaction, the insider now directly owns 16,669 shares in the company, valued at approximately $2,459,010.88. The disclosure for this sale can be found here. Insiders sold 1,049,835 shares of company stock worth $160,813,887 over the last quarter. 51.00% of the stock is currently owned by company insiders.

Impinj Trading Up 0.3 %

Shares of NASDAQ:PI traded up $0.46 during mid-day trading on Friday, reaching $149.07. The stock had a trading volume of 78,903 shares, compared to its average volume of 443,986. The firm has a market cap of $4.13 billion, a PE ratio of -424.60 and a beta of 1.78. The firm has a 50 day simple moving average of $157.65 and a two-hundred day simple moving average of $137.72. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $181.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company had revenue of $102.50 million during the quarter, compared to the consensus estimate of $97.47 million. During the same period in the prior year, the company earned ($0.14) earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, equities analysts anticipate that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on PI shares. Susquehanna upped their target price on shares of Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Lake Street Capital raised their target price on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Jefferies Financial Group assumed coverage on Impinj in a research note on Monday, May 13th. They issued a “buy” rating and a $200.00 price target for the company. The Goldman Sachs Group cut shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price objective on the stock. in a research note on Monday, May 20th. Finally, Roth Mkm increased their target price on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.10.

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.