Chevy Chase Trust Holdings Inc. lowered its stake in IMPINJ Inc (NASDAQ:PI) by 8.6% in the 3rd quarter, Holdings Channel reports. The firm owned 299,034 shares of the company’s stock after selling 28,168 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in IMPINJ were worth $7,422,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of IMPINJ by 6.3% in the 2nd quarter. BlackRock Inc. now owns 1,220,071 shares of the company’s stock worth $26,976,000 after purchasing an additional 71,991 shares during the last quarter. GMT Capital Corp increased its position in shares of IMPINJ by 46.2% in the 2nd quarter. GMT Capital Corp now owns 611,500 shares of the company’s stock worth $13,520,000 after purchasing an additional 193,300 shares during the last quarter. UBS Group AG increased its position in shares of IMPINJ by 28.9% in the 1st quarter. UBS Group AG now owns 237,949 shares of the company’s stock worth $3,098,000 after purchasing an additional 53,309 shares during the last quarter. Fred Alger Management Inc. boosted its holdings in shares of IMPINJ by 1.5% in the 2nd quarter. Fred Alger Management Inc. now owns 233,438 shares of the company’s stock valued at $5,161,000 after buying an additional 3,555 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of IMPINJ by 1.9% in the 2nd quarter. Northern Trust Corp now owns 221,038 shares of the company’s stock valued at $4,886,000 after buying an additional 4,145 shares during the period. 60.75% of the stock is owned by institutional investors.
IMPINJ stock opened at $21.71 on Friday. The company has a quick ratio of 3.87, a current ratio of 5.49 and a debt-to-equity ratio of 0.20. The stock has a market cap of $399.42 million, a price-to-earnings ratio of -74.86 and a beta of 1.50. IMPINJ Inc has a 52-week low of $9.95 and a 52-week high of $28.48.
IMPINJ (NASDAQ:PI) last posted its earnings results on Monday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $34.40 million during the quarter, compared to analyst estimates of $33.47 million. IMPINJ had a negative net margin of 33.58% and a negative return on equity of 20.18%. IMPINJ’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) EPS. Equities analysts forecast that IMPINJ Inc will post -1.18 EPS for the current fiscal year.
PI has been the subject of several research reports. Zacks Investment Research raised shares of IMPINJ from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, September 19th. Piper Jaffray Companies lifted their price target on shares of IMPINJ from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, September 13th. Finally, BidaskClub raised shares of IMPINJ from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. IMPINJ has an average rating of “Hold” and a consensus price target of $26.14.
Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.
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