Handelsbanken Fonder AB increased its position in shares of Impinj, Inc. (NASDAQ:PI – Free Report) by 59.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,200 shares of the company’s stock after buying an additional 3,800 shares during the period. Handelsbanken Fonder AB’s holdings in Impinj were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of PI. Danske Bank A S bought a new stake in shares of Impinj in the 4th quarter valued at about $35,000. Western Wealth Management LLC acquired a new stake in Impinj in the 1st quarter valued at about $28,000. Daiwa Securities Group Inc. grew its holdings in Impinj by 41.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 340 shares of the company’s stock worth $59,000 after purchasing an additional 100 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Impinj during the fourth quarter worth about $60,000. Finally, Larson Financial Group LLC increased its position in Impinj by 7,100.0% during the fourth quarter. Larson Financial Group LLC now owns 360 shares of the company’s stock worth $63,000 after buying an additional 355 shares during the last quarter.
Impinj Trading Down 2.1%
Shares of NASDAQ:PI opened at $168.07 on Wednesday. Impinj, Inc. has a 12-month low of $87.36 and a 12-month high of $247.06. The stock has a market cap of $5.13 billion, a PE ratio of -182.68 and a beta of 1.94. The business has a 50 day moving average of $145.12 and a 200-day moving average of $130.29. The company has a quick ratio of 2.29, a current ratio of 3.28 and a debt-to-equity ratio of 0.80.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Zacks Research raised Impinj from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Jefferies Financial Group increased their price target on Impinj from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of Impinj in a research note on Thursday, July 30th. Wall Street Zen raised Impinj from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Weiss Ratings raised shares of Impinj from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.22.
View Our Latest Stock Report on PI
Insiders Place Their Bets
In other Impinj news, CFO Cary Baker sold 1,429 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $185.00, for a total transaction of $264,365.00. Following the transaction, the chief financial officer owned 88,226 shares in the company, valued at $16,321,810. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sylebra Capital Llc sold 48,504 shares of Impinj stock in a transaction on Friday, May 29th. The stock was sold at an average price of $150.78, for a total value of $7,313,433.12. Following the sale, the director directly owned 973,667 shares of the company’s stock, valued at $146,809,510.26. This represents a 4.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 240,657 shares of company stock worth $32,875,156. Insiders own 6.80% of the company’s stock.
About Impinj
Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj’s platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.
Impinj’s product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).
Read More
- Five stocks we like better than Impinj
- The AI Boom Is Turning This Cable Maker Into a Stock to Watch
- A Star Investor Just Trimmed Amazon—Here’s What It means
- Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look
- Home Depot Analysts See a Path to $375 and Beyond
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 – Free Report).
Receive News & Ratings for Impinj Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impinj and related companies with MarketBeat.com's FREE daily email newsletter.
