Allianz Asset Management GmbH lifted its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 661.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 775,896 shares of the company’s stock after buying an additional 673,948 shares during the quarter. Allianz Asset Management GmbH owned approximately 3.70% of Impinj worth $32,285,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in PI. BNP Paribas Arbitrage SA raised its stake in shares of Impinj by 1,261.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after buying an additional 1,942 shares during the period. Bronfman E.L. Rothschild L.P. acquired a new position in Impinj in the 3rd quarter valued at $116,000. Turner Investments LLC acquired a new position in Impinj in the 2nd quarter valued at $146,000. PNC Financial Services Group Inc. raised its stake in 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 purchasing an additional 1,765 shares during the last quarter. Finally, First Mercantile Trust Co. acquired a new position in Impinj in the 2nd quarter valued at $178,000. 82.95% of the stock is owned by institutional investors and hedge funds.
PI has been the subject of several recent research reports. Dougherty & Co initiated coverage on Impinj in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $62.00 price objective for the company. Needham & Company LLC reduced their price objective on Impinj from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Zacks Investment Research raised Impinj from a “sell” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Wednesday, October 25th. BidaskClub downgraded Impinj from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 10th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Impinj in a research note on Friday, September 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Impinj presently has a consensus rating of “Hold” and a consensus target price of $36.67.
Shares of Impinj, Inc. (PI) opened at $23.42 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.49 and a quick ratio of 4.97. Impinj, Inc. has a twelve month low of $19.97 and a twelve month high of $60.85.
Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). The company had revenue of $32.60 million during the quarter, compared to analysts’ expectations of $32.58 million. Impinj had a negative net margin of 5.97% and a negative return on equity of 1.15%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 earnings per share. equities analysts anticipate that Impinj, Inc. will post -0.41 EPS for the current fiscal year.
In other Impinj news, insider Eric Brodersen sold 7,000 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $39.85, for a total value of $278,950.00. Following the completion of the sale, the insider now directly owns 92,843 shares in the company, valued at approximately $3,699,793.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Clinton Bybee bought 4,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was bought at an average price of $24.43 per share, with a total value of $97,720.00. Following the completion of the acquisition, the director now owns 4,417 shares in the company, valued at $107,907.31. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 26,200 shares of company stock valued at $895,109. 15.20% of the stock is owned by company insiders.
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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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