IMPINJ Inc (NYSE:PI)’s share price rose 8% during trading on Tuesday . The company traded as high as $24.59 and last traded at $24.00. Approximately 1,499,545 shares were traded during mid-day trading, an increase of 103% from the average daily volume of 740,001 shares. The stock had previously closed at $22.23.

PI has been the topic of a number of research analyst reports. BidaskClub downgraded shares of IMPINJ from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 10th. Canaccord Genuity restated a “buy” rating and issued a $50.00 target price (down from $57.00) on shares of IMPINJ in a research note on Friday, August 4th. Needham & Company LLC upped their target price on shares of IMPINJ from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Dougherty & Co initiated coverage on shares of IMPINJ in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $62.00 target price on the stock. Finally, Royal Bank Of Canada restated a “buy” rating on shares of IMPINJ in a research note on Friday, September 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $36.67.

IMPINJ (NYSE:PI) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The business had revenue of $32.60 million during the quarter, compared to analysts’ expectations of $32.58 million. During the same period in the previous year, the company posted $0.10 EPS. IMPINJ’s revenue for the quarter was up 5.2% on a year-over-year basis.

In related news, COO Eric Brodersen sold 3,500 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $35.74, for a total transaction of $125,090.00. Following the completion of the sale, the chief operating officer now owns 101,443 shares of the company’s stock, valued at $3,625,572.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Evan Fein sold 9,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $38.00, for a total transaction of $342,000.00. Following the sale, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at approximately $581,400. The disclosure for this sale can be found here. Insiders sold a total of 37,000 shares of company stock valued at $1,392,420 in the last ninety days.

Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its position in IMPINJ by 1,261.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after acquiring an additional 1,942 shares during the last quarter. American International Group Inc. purchased a new stake in IMPINJ during the first quarter valued at approximately $112,000. Turner Investments LLC purchased a new stake in IMPINJ during the second quarter valued at approximately $146,000. PNC Financial Services Group Inc. lifted its position in IMPINJ by 95.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock valued at $176,000 after acquiring an additional 1,765 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new stake in IMPINJ during the second quarter valued at approximately $178,000.

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About IMPINJ

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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