Geode Capital Management LLC Acquires 3,050 Shares of IMPINJ Inc (PI)
Geode Capital Management LLC raised its stake in IMPINJ Inc (NYSE:PI) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,703 shares of the company’s stock after buying an additional 3,050 shares during the period. Geode Capital Management LLC owned about 0.34% of IMPINJ worth $2,109,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. American International Group Inc. acquired a new stake in IMPINJ during the first quarter valued at $112,000. First Washington CORP acquired a new stake in IMPINJ during the first quarter valued at $122,000. Nordea Investment Management AB acquired a new stake in IMPINJ during the first quarter valued at $127,000. ClariVest Asset Management LLC acquired a new stake in IMPINJ during the first quarter valued at $127,000. Finally, Herald Investment Management Ltd acquired a new stake in IMPINJ during the first quarter valued at $151,000.
Shares of IMPINJ Inc (PI) traded down 4.61% during trading on Monday, hitting $34.74. 287,687 shares of the stock traded hands. The stock’s market cap is $724.68 million. IMPINJ Inc has a 12 month low of $19.55 and a 12 month high of $60.85. The firm’s 50-day moving average price is $43.73 and its 200-day moving average price is $39.36.
IMPINJ (NYSE:PI) last announced its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The company had revenue of $34.10 million during the quarter, compared to analyst estimates of $33.41 million. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. IMPINJ’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. Analysts anticipate that IMPINJ Inc will post $0.06 EPS for the current year.
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Several equities analysts have recently commented on the stock. KeyCorp reaffirmed a “hold” rating on shares of IMPINJ in a research note on Wednesday, August 23rd. Dougherty & Co assumed coverage on shares of IMPINJ in a research note on Wednesday, August 23rd. They set a “buy” rating and a $62.00 price objective for the company. Zacks Investment Research downgraded shares of IMPINJ from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Royal Bank Of Canada lowered their price objective on shares of IMPINJ from $59.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $50.00 price objective (down from $57.00) on shares of IMPINJ in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $45.67.
In other news, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $43.68, for a total value of $393,120.00. Following the completion of the transaction, the chief financial officer now owns 19,000 shares of the company’s stock, valued at $829,920. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Eric Brodersen sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $53.21, for a total transaction of $186,235.00. Following the completion of the transaction, the chief operating officer now directly owns 106,743 shares of the company’s stock, valued at approximately $5,679,795.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,500 shares of company stock valued at $1,812,375.
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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