K.J. Harrison & Partners Inc Makes New Investment in Impinj, Inc. (NASDAQ:PI)

K.J. Harrison & Partners Inc purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 16,200 shares of the company’s stock, valued at approximately $1,458,000.

A number of other large investors also recently bought and sold shares of PI. Charles Schwab Investment Management Inc. grew its holdings in Impinj by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock worth $9,577,000 after acquiring an additional 8,038 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Impinj in the 3rd quarter worth about $320,000. FMR LLC lifted its position in shares of Impinj by 0.8% in the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after buying an additional 31,289 shares during the last quarter. Telemus Capital LLC bought a new position in shares of Impinj in the 4th quarter worth about $298,000. Finally, AWM Investment Company Inc. lifted its position in shares of Impinj by 9.5% in the 3rd quarter. AWM Investment Company Inc. now owns 365,428 shares of the company’s stock worth $20,110,000 after buying an additional 31,556 shares during the last quarter.

Impinj Price Performance

Shares of PI traded down $4.64 during mid-day trading on Friday, hitting $150.91. The company’s stock had a trading volume of 1,647,904 shares, compared to its average volume of 421,742. The firm has a 50-day moving average price of $119.23 and a 200 day moving average price of $95.02. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of -431.17 and a beta of 2.05. The company has a debt-to-equity ratio of 8.26, a current ratio of 8.73 and a quick ratio of 5.59. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $156.41.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.14. The company had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 81.75%. On average, research analysts predict that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $150.00 price target (up from $130.00) on shares of Impinj in a research report on Thursday. StockNews.com upgraded shares of Impinj to a “sell” rating in a research report on Friday, February 9th. Roth Mkm lifted their price objective on shares of Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC lifted their price objective on shares of Impinj from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group lifted their price objective on shares of Impinj from $130.00 to $156.00 and gave the company a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $132.89.

Insider Transactions at Impinj

In other news, CEO Chris Ph.D. Diorio sold 16,060 shares of Impinj stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.16, for a total value of $1,624,629.60. Following the transaction, the chief executive officer now directly owns 278,863 shares of the company’s stock, valued at $28,209,781.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Cary Baker sold 20,000 shares of Impinj stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00. Following the transaction, the chief financial officer now directly owns 55,432 shares of the company’s stock, valued at $5,661,824.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 16,060 shares of Impinj stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $101.16, for a total transaction of $1,624,629.60. Following the completion of the transaction, the chief executive officer now directly owns 278,863 shares in the company, valued at $28,209,781.08. The disclosure for this sale can be found here. Insiders have sold 120,185 shares of company stock valued at $12,767,674 in the last quarter. Insiders own 17.10% of the company’s stock.

Impinj Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.