Moloney Securities Asset Management LLC Makes New Investment in Impinj, Inc. (NASDAQ:PI)

Moloney Securities Asset Management LLC bought a new position in shares of Impinj, Inc. (NASDAQ:PI) during the third quarter, HoldingsChannel.com reports. The firm bought 5,440 shares of the company’s stock, valued at approximately $1,178,000.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Impinj by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after acquiring an additional 7,247 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Impinj in the first quarter valued at $513,000. TimesSquare Capital Management LLC purchased a new stake in shares of Impinj in the first quarter valued at $19,195,000. Swiss National Bank lifted its position in shares of Impinj by 0.9% in the first quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $5,830,000 after acquiring an additional 400 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Impinj by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,194 shares of the company’s stock valued at $539,000 after acquiring an additional 330 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. The Goldman Sachs Group upped their price objective on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Roth Mkm upped their target price on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Evercore ISI reiterated an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald upped their target price on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Insider Activity

In other news, major shareholder Sylebra Capital Llc sold 95,670 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $195.21, for a total value of $18,675,740.70. Following the completion of the sale, the insider now owns 2,903,505 shares in the company, valued at approximately $566,793,211.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CRO Jeffrey Dossett sold 577 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.20, for a total value of $120,708.40. Following the completion of the transaction, the executive now owns 64,532 shares of the company’s stock, valued at approximately $13,500,094.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Sylebra Capital Llc sold 95,670 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $195.21, for a total value of $18,675,740.70. Following the completion of the transaction, the insider now directly owns 2,903,505 shares of the company’s stock, valued at $566,793,211.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,327 shares of company stock worth $42,821,483. 51.00% of the stock is currently owned by corporate insiders.

Impinj Price Performance

Shares of NASDAQ:PI opened at $198.23 on Wednesday. The firm has a market capitalization of $5.61 billion, a PE ratio of 222.73 and a beta of 1.81. The business has a 50-day moving average of $201.17 and a two-hundred day moving average of $173.32. Impinj, Inc. has a 12 month low of $66.54 and a 12 month high of $239.88.

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

About Impinj

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.