Meridian Wealth Management LLC Invests $291,000 in Impinj, Inc. (NASDAQ:PI)

Meridian Wealth Management LLC bought a new position in Impinj, Inc. (NASDAQ:PI) during the 4th quarter, Holdings Channel.com reports. The firm bought 2,000 shares of the company’s stock, valued at approximately $291,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. National Bank of Canada FI bought a new position in shares of Impinj in the third quarter worth approximately $30,000. Farther Finance Advisors LLC grew its holdings 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 purchasing an additional 141 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Impinj in the fourth quarter worth approximately $33,000. Jones Financial Companies Lllp grew its holdings in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after purchasing an additional 175 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after purchasing an additional 198 shares during the last quarter.

Impinj Trading Up 5.1 %

Shares of PI stock opened at $94.82 on Thursday. Impinj, Inc. has a 12 month low of $84.17 and a 12 month high of $239.88. The stock has a market cap of $2.71 billion, a PE ratio of 69.72 and a beta of 1.88. The company’s fifty day moving average price is $123.50 and its 200-day moving average price is $165.47.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PI shares. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. The Goldman Sachs Group cut their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Susquehanna cut their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. Needham & Company LLC cut their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.10.

Insider Buying and Selling

In related news, insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the transaction, the insider now owns 6,979 shares in the company, valued at $1,019,352.74. The trade was a 2.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the transaction, the chief executive officer now owns 354,076 shares in the company, valued at approximately $34,975,627.28. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,323 shares of company stock worth $2,454,588 in the last quarter. Corporate insiders own 51.00% of the company’s stock.

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.