Allianz Asset Management GmbH lowered its stake in IMPINJ Inc (NASDAQ:PI) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 551,928 shares of the company’s stock after selling 223,968 shares during the period. Allianz Asset Management GmbH’s holdings in IMPINJ were worth $12,435,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in PI. Bronfman E.L. Rothschild L.P. bought a new stake in shares of IMPINJ during the 3rd quarter valued at $116,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of IMPINJ during the 3rd quarter valued at $128,000. Rainier Group Investment Advisory LLC bought a new stake in shares of IMPINJ during the 3rd quarter valued at $208,000. Ark Investment Management LLC bought a new stake in shares of IMPINJ during the 2nd quarter valued at $285,000. Finally, WealthTrust Arizona LLC bought a new stake in shares of IMPINJ during the 4th quarter valued at $144,000. Institutional investors and hedge funds own 80.46% of the company’s stock.
In related news, Director Oppen Peter H. Van purchased 47,773 shares of the stock in a transaction dated Friday, February 23rd. The stock was purchased at an average price of $12.61 per share, with a total value of $602,417.53. Following the transaction, the director now directly owns 82,455 shares in the company, valued at $1,039,757.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Evan Fein sold 5,700 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $25.01, for a total value of $142,557.00. Following the completion of the transaction, the chief financial officer now directly owns 17,500 shares of the company’s stock, valued at approximately $437,675. The disclosure for this sale can be found here. 15.20% of the stock is owned by insiders.
IMPINJ Inc (NASDAQ PI) opened at $13.63 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.49 and a quick ratio of 4.97. The stock has a market capitalization of $301.59, a PE ratio of -16.22 and a beta of 1.87. IMPINJ Inc has a 52-week low of $9.95 and a 52-week high of $60.85.
IMPINJ (NASDAQ:PI) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.09). The company had revenue of $26.90 million during the quarter, compared to analysts’ expectations of $29.50 million. IMPINJ had a negative return on equity of 5.93% and a negative net margin of 13.82%. IMPINJ’s revenue for the quarter was down 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. research analysts expect that IMPINJ Inc will post -1.37 earnings per share for the current year.
PI has been the topic of a number of research reports. BidaskClub cut shares of IMPINJ from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th. Zacks Investment Research upgraded shares of IMPINJ from a “strong sell” rating to a “hold” rating in a report on Thursday, January 4th. Needham & Company LLC cut shares of IMPINJ from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Morgan Stanley dropped their target price on shares of IMPINJ from $27.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, February 5th. Finally, Canaccord Genuity restated a “hold” rating on shares of IMPINJ in a report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. IMPINJ has a consensus rating of “Hold” and an average price target of $26.29.
IMPINJ Company Profile
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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