Spark Investment Management LLC acquired a new stake in shares of IMPINJ Inc (NASDAQ:PI) during the 1st quarter, HoldingsChannel reports. The fund acquired 47,200 shares of the company’s stock, valued at approximately $790,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. raised its position in shares of IMPINJ by 14,485.7% during the 4th quarter. Citigroup Inc. now owns 2,042 shares of the company’s stock worth $30,000 after purchasing an additional 2,028 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of IMPINJ during the 1st quarter worth approximately $48,000. BNP Paribas Arbitrage SA raised its position in shares of IMPINJ by 48,471.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,400 shares of the company’s stock worth $57,000 after purchasing an additional 3,393 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of IMPINJ by 363.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,186 shares of the company’s stock worth $90,000 after purchasing an additional 4,852 shares during the period. Finally, MetLife Investment Advisors LLC raised its position in shares of IMPINJ by 56.7% during the 3rd quarter. MetLife Investment Advisors LLC now owns 13,413 shares of the company’s stock worth $333,000 after purchasing an additional 4,852 shares during the period. Hedge funds and other institutional investors own 63.79% of the company’s stock.

Shares of PI stock opened at $25.52 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.79 and a quick ratio of 3.11. The company has a market capitalization of $559.06 million, a P/E ratio of -37.53 and a beta of 2.81. IMPINJ Inc has a 12-month low of $13.25 and a 12-month high of $31.10.

IMPINJ (NASDAQ:PI) last issued its quarterly earnings results on Monday, April 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. The firm had revenue of $33.10 million during the quarter, compared to analyst estimates of $31.08 million. IMPINJ had a negative return on equity of 12.32% and a negative net margin of 21.33%. The firm’s quarterly revenue was up 31.9% on a year-over-year basis. During the same period last year, the company posted ($0.38) EPS. Equities research analysts forecast that IMPINJ Inc will post -0.4 EPS for the current fiscal year.

A number of equities analysts recently issued reports on PI shares. Zacks Investment Research raised IMPINJ from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Friday, January 25th. ValuEngine raised IMPINJ from a “hold” rating to a “buy” rating in a report on Monday, February 4th. BidaskClub raised IMPINJ from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Finally, Dougherty & Co reissued a “neutral” rating on shares of IMPINJ in a report on Thursday, February 21st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. IMPINJ presently has a consensus rating of “Buy” and a consensus target price of $31.25.

In other IMPINJ news, insider Eric Brodersen sold 15,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.62, for a total transaction of $429,300.00. Following the completion of the transaction, the insider now directly owns 55,600 shares of the company’s stock, valued at approximately $1,591,272. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Chris Ph.D. Diorio sold 10,000 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the transaction, the chief executive officer now directly owns 335,478 shares of the company’s stock, valued at $6,709,560. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,292 shares of company stock valued at $2,223,945. 26.00% of the stock is currently owned by corporate insiders.

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IMPINJ Profile

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.

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Want to see what other hedge funds are holding PI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IMPINJ Inc (NASDAQ:PI).

Institutional Ownership by Quarter for IMPINJ (NASDAQ:PI)

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