PVG Asset Management Corp Takes $272,000 Position in IMPINJ Inc (NASDAQ:PI)

PVG Asset Management Corp purchased a new stake in IMPINJ Inc (NASDAQ:PI) during the second quarter, Holdings Channel reports. The fund purchased 9,530 shares of the company’s stock, valued at approximately $272,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in IMPINJ by 5.3% during the 4th quarter. Bank of America Corp DE now owns 14,086 shares of the company’s stock worth $205,000 after buying an additional 711 shares during the period. BNP Paribas Arbitrage SA increased its stake in IMPINJ by 48,471.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,400 shares of the company’s stock worth $57,000 after buying an additional 3,393 shares during the period. Spark Investment Management LLC purchased a new stake in IMPINJ during the 1st quarter worth approximately $790,000. Ironwood Investment Management LLC increased its stake in IMPINJ by 5.7% during the 1st quarter. Ironwood Investment Management LLC now owns 31,631 shares of the company’s stock worth $530,000 after buying an additional 1,694 shares during the period. Finally, Rehmann Capital Advisory Group purchased a new stake in IMPINJ during the 1st quarter worth approximately $190,000. 70.42% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Chris Ph.D. Diorio sold 18,257 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $35.00, for a total value of $638,995.00. Following the completion of the transaction, the chief executive officer now owns 271,278 shares in the company, valued at approximately $9,494,730. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gregory Sessler sold 5,828 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $32.20, for a total transaction of $187,661.60. Following the completion of the transaction, the director now owns 23,864 shares of the company’s stock, valued at approximately $768,420.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,012 shares of company stock valued at $5,228,424. Company insiders own 28.00% of the company’s stock.

Shares of NASDAQ:PI traded down $0.50 during trading hours on Friday, reaching $32.96. The stock had a trading volume of 23,357 shares, compared to its average volume of 285,790. The firm’s 50 day moving average is $36.04 and its 200-day moving average is $27.70. IMPINJ Inc has a 1 year low of $13.25 and a 1 year high of $40.24. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.08 and a current ratio of 5.95. The stock has a market capitalization of $739.80 million, a price-to-earnings ratio of -48.57 and a beta of 2.71.

IMPINJ (NASDAQ:PI) last issued its earnings results on Monday, July 29th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.12. IMPINJ had a negative net margin of 17.31% and a negative return on equity of 7.65%. The business had revenue of $38.19 million during the quarter, compared to analysts’ expectations of $34.95 million. During the same quarter in the prior year, the business posted ($0.19) EPS. The company’s revenue for the quarter was up 33.8% on a year-over-year basis. Analysts forecast that IMPINJ Inc will post -0.44 EPS for the current year.

Several equities research analysts recently weighed in on the stock. Dougherty & Co raised shares of IMPINJ from a “neutral” rating to a “buy” rating in a research note on Monday, July 1st. BidaskClub downgraded shares of IMPINJ from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. TheStreet raised shares of IMPINJ from a “d” rating to a “c-” rating in a research report on Tuesday, July 30th. Canaccord Genuity reissued a “buy” rating and issued a $42.00 price objective (up from $39.00) on shares of IMPINJ in a research report on Friday, August 16th. Finally, Roth Capital increased their price objective on shares of IMPINJ from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $40.00.

IMPINJ Profile

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.

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Institutional Ownership by Quarter for IMPINJ (NASDAQ:PI)

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