Harbor Capital Advisors Inc. Buys 7,151 Shares of Impinj, Inc. (NASDAQ:PI)

Harbor Capital Advisors Inc. lifted its stake in shares of Impinj, Inc. (NASDAQ:PI) by 112.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,533 shares of the company’s stock after acquiring an additional 7,151 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Impinj were worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PI. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj in the 1st quarter valued at about $32,000. GAMMA Investing LLC bought a new position in shares of Impinj during the 4th quarter worth approximately $40,000. Headlands Technologies LLC bought a new stake in shares of Impinj in the 4th quarter valued at $58,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Impinj by 117.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after acquiring an additional 521 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in Impinj during the first quarter worth $228,000.

Insider Buying and Selling

In related news, CEO Chris Ph.D. Diorio sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $146.49, for a total transaction of $732,450.00. Following the transaction, the chief executive officer now directly owns 286,230 shares in the company, valued at approximately $41,929,832.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Hussein Mecklai sold 416 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $175.43, for a total value of $72,978.88. Following the sale, the chief operating officer now directly owns 58,104 shares of the company’s stock, valued at $10,193,184.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $146.49, for a total transaction of $732,450.00. Following the completion of the transaction, the chief executive officer now owns 286,230 shares of the company’s stock, valued at $41,929,832.70. The disclosure for this sale can be found here. Insiders have sold a total of 1,049,835 shares of company stock worth $160,813,887 in the last 90 days. 51.00% of the stock is owned by company insiders.

Impinj Stock Up 0.2 %

NASDAQ:PI traded up $0.26 during trading hours on Wednesday, hitting $140.51. 287,651 shares of the company’s stock traded hands, compared to its average volume of 442,329. The firm has a market cap of $3.89 billion, a P/E ratio of -400.94 and a beta of 1.78. The business’s fifty day simple moving average is $158.47 and its two-hundred day simple moving average is $137.40. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $181.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. During the same quarter in the previous year, the company earned ($0.14) EPS. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. On average, analysts expect that Impinj, Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on PI. Roth Mkm boosted their price objective on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Susquehanna lifted their price objective on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price target on shares of Impinj in a research report on Thursday, July 25th. Jefferies Financial Group started coverage on Impinj in a report on Monday, May 13th. They set a “buy” rating and a $200.00 price target for the company. Finally, Evercore ISI raised their price objective on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $187.10.

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.