IMPINJ (PI) Stock Price Up 0% After Insider Buying Activity

IMPINJ Inc (NASDAQ:PI)’s share price rose 0% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $12.35 and last traded at $12.06. Approximately 2,400,500 shares traded hands during trading, an increase of 76% from the average daily volume of 1,362,214 shares. The stock had previously closed at $12.06.

Specifically, EVP Jeffrey Dossett purchased 8,000 shares of IMPINJ stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of $12.75 per share, for a total transaction of $102,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Evan Fein sold 5,700 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $25.01, for a total transaction of $142,557.00. Following the sale, the chief financial officer now owns 17,500 shares in the company, valued at approximately $437,675. The disclosure for this sale can be found here. Company insiders own 15.20% of the company’s stock.

PI has been the topic of a number of research analyst reports. BidaskClub lowered shares of IMPINJ from a “sell” rating to a “strong sell” rating in a research report on Friday, January 26th. Zacks Investment Research upgraded shares of IMPINJ from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 4th. Needham & Company LLC lowered shares of IMPINJ from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Royal Bank of Canada cut their target price on shares of IMPINJ from $50.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $35.00 target price (down previously from $50.00) on shares of IMPINJ in a research report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. IMPINJ currently has an average rating of “Hold” and a consensus price target of $26.29.

The company has a quick ratio of 4.97, a current ratio of 7.49 and a debt-to-equity ratio of 0.06.

IMPINJ (NASDAQ:PI) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.09). The business had revenue of $26.90 million for the quarter, compared to analyst estimates of $29.50 million. IMPINJ had a negative return on equity of 5.93% and a negative net margin of 13.82%. IMPINJ’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. research analysts anticipate that IMPINJ Inc will post -1.37 EPS for the current year.

Several large investors have recently modified their holdings of PI. Sylebra HK Co Ltd raised its stake in IMPINJ by 32.8% during the fourth quarter. Sylebra HK Co Ltd now owns 3,899,063 shares of the company’s stock worth $87,846,000 after buying an additional 962,212 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in IMPINJ by 4.0% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,191,393 shares of the company’s stock worth $91,184,000 after buying an additional 84,514 shares during the last quarter. BlackRock Inc. raised its stake in IMPINJ by 0.4% during the fourth quarter. BlackRock Inc. now owns 1,149,501 shares of the company’s stock worth $25,898,000 after buying an additional 4,263 shares during the last quarter. Allianz Asset Management GmbH raised its stake in IMPINJ by 661.1% during the third quarter. Allianz Asset Management GmbH now owns 775,896 shares of the company’s stock worth $32,285,000 after buying an additional 673,948 shares during the last quarter. Finally, Hood River Capital Management LLC raised its stake in IMPINJ by 1.1% during the third quarter. Hood River Capital Management LLC now owns 739,823 shares of the company’s stock worth $30,784,000 after buying an additional 7,858 shares during the last quarter. Institutional investors own 74.84% of the company’s stock.

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About IMPINJ

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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