Emerald Advisers LLC Boosts Stake in Impinj, Inc. (NASDAQ:PI)

Emerald Advisers LLC increased its stake in Impinj, Inc. (NASDAQ:PI) by 8.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 182,481 shares of the company’s stock after acquiring an additional 13,884 shares during the period. Impinj comprises approximately 1.5% of Emerald Advisers LLC’s portfolio, making the stock its 13th largest position. Emerald Advisers LLC owned about 0.66% of Impinj worth $39,511,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. First Bank & Trust lifted its stake in Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after purchasing an additional 55 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after acquiring an additional 141 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after acquiring an additional 190 shares during the last quarter. Rhumbline Advisers grew its position in Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after acquiring an additional 248 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in Impinj in the 3rd quarter worth approximately $54,000.

Insider Buying and Selling at Impinj

In other news, CRO Jeffrey Dossett sold 488 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $237.84, for a total value of $116,065.92. Following the completion of the transaction, the executive now owns 65,294 shares of the company’s stock, valued at approximately $15,529,524.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CRO Jeffrey Dossett sold 488 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.84, for a total value of $116,065.92. Following the transaction, the executive now directly owns 65,294 shares of the company’s stock, valued at $15,529,524.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the sale, the chief executive officer now owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,284 shares of company stock worth $19,783,007 in the last ninety days. 51.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PI. Susquehanna boosted their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Cantor Fitzgerald boosted their price target on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. 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 research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Stock Up 2.5 %

Shares of Impinj stock traded up $4.72 during midday trading on Friday, hitting $194.71. The company had a trading volume of 340,252 shares, compared to its average volume of 593,066. The company has a fifty day simple moving average of $199.89 and a 200 day simple moving average of $171.88. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 218.78 and a beta of 1.82. Impinj, Inc. has a 12-month low of $62.84 and a 12-month high of $239.88.

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

Impinj 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.