Impinj, Inc. (NASDAQ:PI) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 32.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,427 shares of the company's stock after selling 6,476 shares during the period. Raymond James & Associates' holdings in Impinj were worth $1,209,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in shares of Impinj by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company's stock worth $9,577,000 after acquiring an additional 8,038 shares during the last quarter. Aigen Investment Management LP purchased a new position in Impinj in the 3rd quarter valued at $320,000. FMR LLC grew its position in Impinj by 0.8% in the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company's stock valued at $221,710,000 after buying an additional 31,289 shares during the last quarter. AWM Investment Company Inc. boosted its position in shares of Impinj by 9.5% during the 3rd quarter. AWM Investment Company Inc. now owns 365,428 shares of the company's stock worth $20,110,000 after purchasing an additional 31,556 shares in the last quarter. Finally, Toronado Partners LLC boosted its position in shares of Impinj by 8.8% during the 3rd quarter. Toronado Partners LLC now owns 355,825 shares of the company's stock worth $19,581,000 after purchasing an additional 28,700 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PI shares. Evercore ISI started coverage on shares of Impinj in a research report on Tuesday, April 16th. They set an "outperform" rating and a $160.00 target price on the stock. Canaccord Genuity Group boosted their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, March 14th. StockNews.com upgraded shares of Impinj to a "sell" rating in a research report on Friday, February 9th. Susquehanna lifted their price target on Impinj from $115.00 to $130.00 and gave the stock a "positive" rating in a research note on Friday, February 9th. Finally, Roth Mkm lifted their price target on Impinj from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $119.44.

Insider Activity

In other news, insider Cathal G. Phelan sold 10,000 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.23, for a total transaction of $1,062,300.00. Following the completion of the sale, the insider now owns 21,750 shares in the company, valued at approximately $2,310,502.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Cathal G. Phelan sold 10,000 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.23, for a total transaction of $1,062,300.00. Following the completion of the sale, the insider now owns 21,750 shares in the company, valued at approximately $2,310,502.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cary Baker sold 374 shares of the business's stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $118.70, for a total value of $44,393.80. Following the sale, the chief financial officer now owns 67,948 shares of the company's stock, valued at approximately $8,065,427.60. The disclosure for this sale can be found here. Insiders sold a total of 120,185 shares of company stock valued at $12,767,674 in the last 90 days. 17.10% of the stock is currently owned by insiders.

Impinj Price Performance

PI stock traded down $5.76 during trading on Friday, hitting $116.32. The stock had a trading volume of 338,965 shares, compared to its average volume of 209,704. The company's 50 day moving average price is $116.30 and its two-hundred day moving average price is $92.76. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $141.68. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -71.80 and a beta of 2.05. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73.

Impinj (NASDAQ:PI - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The firm had revenue of $70.65 million during the quarter, compared to the consensus estimate of $67.10 million. On average, sell-side analysts forecast that Impinj, Inc. will post -0.62 EPS for the current fiscal 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.