Washington Trust Bank Invests $262,000 in Impinj, Inc. (NASDAQ:PI)

Washington Trust Bank purchased a new stake in shares of Impinj, Inc. (NASDAQ:PI) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,212 shares of the company’s stock, valued at approximately $262,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after purchasing an additional 35,893 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Impinj during the 2nd quarter valued at approximately $103,252,000. Janus Henderson Group PLC boosted its position in Impinj by 0.6% during the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after purchasing an additional 2,681 shares during the period. Renaissance Technologies LLC bought a new position in Impinj during the 2nd quarter worth $30,116,000. Finally, Emerald Advisers LLC increased its position in Impinj by 8.2% in the third quarter. Emerald Advisers LLC now owns 182,481 shares of the company’s stock worth $39,511,000 after buying an additional 13,884 shares during the period.

Impinj Trading Down 0.1 %

PI stock traded down $0.29 on Thursday, hitting $197.74. 6,974 shares of the company’s stock traded hands, compared to its average volume of 469,561. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 222.51 and a beta of 1.81. Impinj, Inc. has a 1-year low of $67.37 and a 1-year high of $239.88. The stock has a fifty day moving average of $201.87 and a 200-day moving average of $173.49.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company’s revenue was up 46.5% compared to the same quarter last year. During the same period last year, the company posted ($0.36) EPS. On average, equities research analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Cathal G. Phelan sold 677 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $162.46, for a total value of $109,985.42. Following the completion of the sale, the insider now directly owns 17,367 shares of the company’s stock, valued at $2,821,442.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 216,327 shares of company stock worth $42,821,483. Company insiders own 51.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PI shares. Lake Street Capital increased their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Susquehanna increased their price target on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Cantor Fitzgerald lifted their price objective on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Needham & Company LLC increased their target price on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Evercore ISI reissued an “outperform” rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects 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.