Hartline Investment Corp Boosts Holdings in Impinj, Inc. (PI)

Hartline Investment Corp increased its stake in shares of Impinj, Inc. (NASDAQ:PI) by 34.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,831 shares of the company’s stock after acquiring an additional 20,501 shares during the period. Impinj comprises about 1.0% of Hartline Investment Corp’s portfolio, making the stock its 26th largest position. Hartline Investment Corp owned about 0.38% of Impinj worth $3,322,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Carnegie Capital Asset Management LLC boosted its holdings in Impinj by 10.7% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 15,230 shares of the company’s stock valued at $747,000 after purchasing an additional 1,470 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Impinj by 95.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock valued at $176,000 after buying an additional 1,765 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Impinj by 30.6% in the 2nd quarter. Global X Management Co. LLC now owns 8,073 shares of the company’s stock valued at $393,000 after buying an additional 1,892 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Impinj by 1,261.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after buying an additional 1,942 shares in the last quarter. Finally, Virtu KCG Holdings LLC raised its position in shares of Impinj by 40.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 9,570 shares of the company’s stock valued at $466,000 after buying an additional 2,764 shares in the last quarter. Institutional investors and hedge funds own 82.69% of the company’s stock.

In other news, Director Clinton Bybee acquired 4,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was bought at an average cost of $24.43 per share, for a total transaction of $97,720.00. Following the completion of the transaction, the director now owns 4,417 shares of the company’s stock, valued at $107,907.31. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Brodersen sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $36.85, for a total transaction of $257,950.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,700 shares of company stock valued at $478,399. 15.20% of the stock is currently owned by corporate insiders.

Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Impinj from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Royal Bank of Canada restated a “buy” rating on shares of Impinj in a research report on Friday, September 29th. BidaskClub lowered shares of Impinj from a “hold” rating to a “sell” rating in a research note on Wednesday. Piper Jaffray Companies lowered shares of Impinj from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 2nd. Finally, Dougherty & Co reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Impinj in a research note on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Impinj has a consensus rating of “Hold” and an average target price of $36.33.

Impinj, Inc. (NASDAQ PI) traded up $0.54 on Friday, reaching $22.53. 628,774 shares of the company’s stock traded hands, compared to its average volume of 459,395. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.97 and a current ratio of 7.49. Impinj, Inc. has a 1 year low of $19.97 and a 1 year high of $60.85. The firm has a market capitalization of $460.87, a P/E ratio of -59.29 and a beta of -2.16.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). The business had revenue of $32.60 million for the quarter, compared to analyst estimates of $32.58 million. Impinj had a negative return on equity of 1.15% and a negative net margin of 5.97%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. analysts forecast that Impinj, Inc. will post -0.41 earnings per share for the current year.

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Impinj Profile

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.

Institutional Ownership by Quarter for Impinj (NASDAQ:PI)

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