Oppenheimer Asset Management Inc. Purchases 487 Shares of Impinj, Inc. (NASDAQ:PI)

Oppenheimer Asset Management Inc. grew its position in Impinj, Inc. (NASDAQ:PI) by 31.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,044 shares of the company’s stock after purchasing an additional 487 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Impinj were worth $443,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PI. First Bank & Trust lifted its stake in Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock valued at $383,000 after buying an additional 55 shares during the period. Farther Finance Advisors LLC boosted its stake in Impinj by 1,084.6% during 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 in the last quarter. Hsbc Holdings PLC grew its holdings in Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after purchasing an additional 190 shares during the period. Rhumbline Advisers grew its stake in shares of Impinj by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock valued at $5,158,000 after buying an additional 248 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in Impinj in the third quarter valued at approximately $54,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Roth Mkm boosted their price objective on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC increased their price objective on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Susquehanna lifted their target price on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Insider Buying and Selling at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The stock was purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the purchase, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This trade represents a 14.81 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jeffrey Dossett sold 488 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $237.84, for a total transaction of $116,065.92. Following the sale, the executive now owns 65,294 shares in the company, valued at $15,529,524.96. The trade was 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 worth $131,623,305 over the last three months. 51.00% of the stock is currently owned by insiders.

Impinj Trading Up 3.9 %

Shares of Impinj stock opened at $182.84 on Wednesday. The business’s fifty day simple moving average is $205.81 and its 200 day simple moving average is $176.26. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88. The firm has a market capitalization of $5.17 billion, a P/E ratio of 202.24 and a beta of 1.81.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.36) EPS. Analysts predict that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

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.