Raymond James Financial Inc. Makes New Investment in Impinj, Inc. (NASDAQ:PI)

Raymond James Financial Inc. acquired a new stake in Impinj, Inc. (NASDAQ:PI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 190,685 shares of the company’s stock, valued at approximately $27,699,000.

A number of other institutional investors have also made changes to their positions in PI. National Bank of Canada FI bought a new position in Impinj in the third quarter valued at approximately $30,000. Farther Finance Advisors LLC boosted its holdings in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Impinj in the fourth quarter valued at $33,000. Jones Financial Companies Lllp increased its holdings in Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after buying an additional 175 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Impinj by 116.5% during the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after acquiring an additional 198 shares in the last quarter.

Impinj Price Performance

Shares of NASDAQ PI opened at $90.34 on Friday. Impinj, Inc. has a one year low of $84.17 and a one year high of $239.88. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 66.43 and a beta of 1.98. The stock’s fifty day moving average price is $116.06 and its two-hundred day moving average price is $162.17.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) 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%. On average, equities analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Impinj

In related news, CFO Cary Baker sold 1,553 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now owns 76,451 shares of the company’s stock, valued at $7,550,300.76. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cathal G. Phelan sold 210 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,323 shares of company stock valued at $2,454,588. 51.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PI has been the topic of several recent analyst reports. Piper Sandler lowered their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC lowered their price target on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.44.

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.