K.J. Harrison & Partners Inc reduced its stake in shares of Impinj, Inc. (NASDAQ:PI – Get Rating) by 25.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 28,550 shares of the company’s stock after selling 10,000 shares during the period. K.J. Harrison & Partners Inc owned approximately 0.12% of Impinj worth $1,814,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in PI. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the 4th quarter worth about $44,000. Strs Ohio purchased a new stake in shares of Impinj during the 4th quarter worth about $266,000. Shufro Rose & Co. LLC purchased a new stake in shares of Impinj during the 4th quarter worth about $266,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Impinj during the 4th quarter worth about $304,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Impinj during the 4th quarter worth about $308,000. 88.00% of the stock is currently owned by institutional investors.
In other Impinj news, CFO Cary Baker sold 1,448 shares of Impinj stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $52.38, for a total value of $75,846.24. Following the transaction, the chief financial officer now directly owns 34,374 shares in the company, valued at $1,800,510.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 4,824 shares of Impinj stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $52.39, for a total transaction of $252,729.36. Following the completion of the transaction, the chief executive officer now owns 313,797 shares in the company, valued at $16,439,824.83. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,939 shares of company stock valued at $757,135. Corporate insiders own 20.20% of the company’s stock.
Impinj (NASDAQ:PI – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.13. Impinj had a negative net margin of 26.39% and a negative return on equity of 89.38%. The business had revenue of $53.14 million during the quarter, compared to the consensus estimate of $51.13 million. During the same quarter last year, the firm earned ($0.30) EPS. On average, research analysts predict that Impinj, Inc. will post -1.48 earnings per share for the current year.
A number of research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Impinj in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Roth Capital decreased their price target on shares of Impinj from $95.00 to $76.00 in a research note on Thursday, April 28th. Lake Street Capital decreased their price target on shares of Impinj from $100.00 to $87.00 in a research note on Thursday, April 28th. Piper Sandler decreased their price target on shares of Impinj from $100.00 to $80.00 in a research note on Wednesday, April 27th. Finally, The Goldman Sachs Group cut their price objective on shares of Impinj from $102.00 to $90.00 and set a “buy” rating for the company in a report on Monday, March 28th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.60.
About Impinj (Get Rating)
Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.
- Get a free copy of the StockNews.com research report on Impinj (PI)
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