D.A. Davidson & CO. Has $618,000 Position in Impinj, Inc. (NASDAQ:PI)

D.A. Davidson & CO. lifted its position in Impinj, Inc. (NASDAQ:PI) by 15.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,855 shares of the company’s stock after acquiring an additional 380 shares during the period. D.A. Davidson & CO.’s holdings in Impinj were worth $618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after purchasing an additional 60,461 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Impinj by 7.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,736 shares of the company’s stock worth $2,974,000 after purchasing an additional 983 shares during the period. Alpha DNA Investment Management LLC acquired a new position in Impinj in the 3rd quarter worth $447,000. Algert Global LLC increased its holdings in Impinj by 354.2% during the 3rd quarter. Algert Global LLC now owns 72,081 shares of the company’s stock worth $15,607,000 after purchasing an additional 56,210 shares in the last quarter. Finally, Telemark Asset Management LLC acquired a new stake in shares of Impinj in the 3rd quarter valued at about $12,991,000.

Insider Activity at Impinj

In related news, CFO Cary Baker sold 366 shares of Impinj stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.83, for a total transaction of $87,045.78. Following the sale, the chief financial officer now directly owns 71,096 shares in the company, valued at $16,908,761.68. The trade was a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 488 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.84, for a total value of $116,065.92. Following the completion of the sale, the executive now directly owns 65,294 shares in the company, valued at approximately $15,529,524.96. This represents a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 655,674 shares of company stock valued at $131,623,305 over the last 90 days. 51.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Cantor Fitzgerald increased their price objective on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Needham & Company LLC boosted their price objective on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Susquehanna lifted their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Finally, StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. One investment 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Stock Performance

PI stock opened at $187.55 on Tuesday. The stock has a fifty day moving average of $205.53 and a 200-day moving average of $178.02. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 210.73 and a beta of 1.81.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million for 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%. During the same period in the prior year, the company earned ($0.36) EPS. The company’s quarterly revenue was up 46.5% compared to the same quarter last year. Equities analysts predict that Impinj, Inc. will post 0.4 EPS 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.