Impinj, Inc. (NASDAQ:PI) Sees Large Drop in Short Interest

Impinj, Inc. (NASDAQ:PI) was the target of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 3,580,000 shares, a decline of 20.3% from the January 31st total of 4,490,000 shares. Based on an average daily trading volume, of 654,800 shares, the short-interest ratio is currently 5.5 days.

Analyst Ratings Changes

A number of research firms have weighed in on PI. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. The Goldman Sachs Group cut their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a report on Thursday, February 27th. Needham & Company LLC dropped their price target on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Susquehanna dropped their price target on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.10.

Impinj Trading Up 2.8 %

NASDAQ:PI traded up $2.47 during trading hours on Tuesday, hitting $90.20. 845,883 shares of the stock traded hands, compared to its average volume of 519,747. The firm has a 50 day moving average price of $124.58 and a 200 day moving average price of $165.97. Impinj has a fifty-two week low of $84.50 and a fifty-two week high of $239.88. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 66.32 and a beta of 1.88.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Research analysts predict that Impinj will post -0.47 EPS for the current year.

Insider Transactions at Impinj

In other Impinj news, CFO Cary Baker sold 499 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $72,883.94. Following the completion of the sale, the chief financial officer now directly owns 71,107 shares in the company, valued at $10,385,888.42. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chris Ph.D. Diorio sold 1,504 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.22, for a total value of $219,914.88. Following the completion of the sale, the chief executive officer now owns 331,572 shares of the company’s stock, valued at $48,482,457.84. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,323 shares of company stock worth $2,454,588. Company insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

Several large investors have recently added to or reduced their stakes in PI. Hillsdale Investment Management Inc. increased its stake in shares of Impinj by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock worth $3,586,000 after acquiring an additional 95 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock worth $1,612,000 after acquiring an additional 100 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Impinj by 6.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company’s stock worth $238,000 after acquiring an additional 106 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Impinj in the third quarter worth $30,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares during the last quarter.

Impinj Company 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.