Quantbot Technologies LP Invests $180,000 in IMPINJ Inc (PI)
Quantbot Technologies LP purchased a new stake in IMPINJ Inc (NYSE:PI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,720 shares of the company’s stock, valued at approximately $180,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PI. BNP Paribas Arbitrage SA raised its position in shares of IMPINJ by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after buying an additional 1,942 shares in the last quarter. American International Group Inc. acquired a new stake in shares of IMPINJ in the first quarter valued at approximately $112,000. Nordea Investment Management AB acquired a new stake in shares of IMPINJ in the first quarter valued at approximately $127,000. ClariVest Asset Management LLC acquired a new stake in shares of IMPINJ in the first quarter valued at approximately $127,000. Finally, Turner Investments LLC acquired a new stake in shares of IMPINJ in the second quarter valued at approximately $146,000.
A number of equities research analysts have recently weighed in on the stock. KeyCorp reiterated a “hold” rating on shares of IMPINJ in a research report on Wednesday, August 23rd. Royal Bank Of Canada lifted their price objective on shares of IMPINJ from $50.00 to $59.00 and gave the company an “outperform” rating in a research note on Monday, June 19th. Dougherty & Co assumed coverage on shares of IMPINJ in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $62.00 price objective on the stock. Zacks Investment Research cut shares of IMPINJ from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Morgan Stanley cut shares of IMPINJ from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $40.00 to $51.00 in a research note on Monday, June 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $50.67.
In other IMPINJ news, COO Eric Brodersen sold 3,500 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $39.36, for a total value of $137,760.00. Following the sale, the chief operating officer now directly owns 92,843 shares in the company, valued at approximately $3,654,300.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Evan Fein sold 9,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.00, for a total transaction of $342,000.00. Following the completion of the sale, the chief financial officer now owns 15,300 shares in the company, valued at $581,400. The disclosure for this sale can be found here. Insiders sold a total of 40,500 shares of company stock worth $1,693,315 over the last quarter.
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IMPINJ Inc (NYSE PI) opened at 39.31 on Friday. IMPINJ Inc has a 52 week low of $23.55 and a 52 week high of $41.97. The company has a 50-day moving average of $39.58 and a 200-day moving average of $39.58. The company’s market capitalization is $820.01 million.
IMPINJ (NYSE:PI) last posted its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The business had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $33.41 million. During the same period in the prior year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities research analysts anticipate that IMPINJ Inc will post $0.05 EPS for the current year.
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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