Schwab Charles Investment Management Inc. decreased its holdings in IMPINJ Inc (NASDAQ:PI) by 13.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,216 shares of the company’s stock after selling 12,435 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in IMPINJ were worth $1,752,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. UBS Group AG raised its position in IMPINJ by 28.9% in the 1st quarter. UBS Group AG now owns 237,949 shares of the company’s stock valued at $3,098,000 after purchasing an additional 53,309 shares during the last quarter. Fred Alger Management Inc. raised its position in IMPINJ by 1.5% in the 2nd quarter. Fred Alger Management Inc. now owns 233,438 shares of the company’s stock valued at $5,161,000 after purchasing an additional 3,555 shares during the last quarter. Millennium Management LLC purchased a new stake in IMPINJ in the 1st quarter valued at $2,440,000. Barclays PLC raised its position in IMPINJ by 3,684.4% in the 1st quarter. Barclays PLC now owns 109,332 shares of the company’s stock valued at $1,424,000 after purchasing an additional 106,443 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in IMPINJ by 137.5% in the 1st quarter. Baird Financial Group Inc. now owns 53,225 shares of the company’s stock valued at $693,000 after purchasing an additional 30,812 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.
A number of equities analysts have commented on the stock. BidaskClub upgraded shares of IMPINJ from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Piper Jaffray Companies upped their price objective on shares of IMPINJ from $19.00 to $26.00 and gave the stock a “positive” rating in a research report on Monday, June 18th. ValuEngine upgraded shares of IMPINJ from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Zacks Investment Research upgraded shares of IMPINJ from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Wednesday, September 19th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. IMPINJ currently has a consensus rating of “Hold” and an average target price of $26.14.
Shares of IMPINJ stock opened at $19.99 on Friday. The firm has a market cap of $605.92 million, a price-to-earnings ratio of -68.93 and a beta of 1.48. The company has a quick ratio of 3.87, a current ratio of 6.65 and a debt-to-equity ratio of 0.19. IMPINJ Inc has a one year low of $9.95 and a one year high of $37.47.
IMPINJ (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, September 12th. The company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.10. The company had revenue of $28.50 million during the quarter, compared to the consensus estimate of $28.50 million. IMPINJ had a negative net margin of 32.16% and a negative return on equity of 17.23%. IMPINJ’s quarterly revenue was down 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. On average, equities research analysts forecast that IMPINJ Inc will post -1.18 earnings per share for the current year.
IMPINJ Company Profile
Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.
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