Tower Research Capital LLC TRC recently decreased its ownership in Impinj, Inc. (NASDAQ:PI) by 68.6% during the first quarter, as stated in its latest disclosure with the Securities and Exchange Commission (SEC). The institutional investor now holds only 1,014 shares of the company’s stock, having sold 2,217 shares during the period. At the end of this quarter, Tower Research Capital LLC TRC’s holdings in Impinj were valued at $137,000.
In another development related to Impinj, CFO Cary Baker sold 2,000 shares of the business’s stock on June 9th for an average price of $110.00 per share. The total value of the transaction amounted to $220,000. Following this sale, the chief financial officer now directly owns 46,234 shares in the company, with a value of $5,085,740. This transaction was disclosed through a legal filing with the SEC, accessible on their website.
Furthermore, major shareholder Sylebra Capital Ltd acquired 48,171 shares of Impinj’s stock on August 21st at an average price of $58.45 per share. The total value of this acquisition was approximately $2,815,594.95. As a result of this purchase, the insider now holds 3,639,419 shares in the company with an approximate value of $212,7240.55 million. This acquisition was also revealed through a legal filing with the SEC available via a provided link.
These developments are important for shareholders and investors to consider when evaluating Impinj’s performance and future potential. Additionally noteworthy is CFO Cary Baker selling another 2 thousand shares on June 9th at an average price of $110 per share with total proceeds reaching up to $220 thousand.
Considering recent activities within just three months’ time frame; company insiders have acquired a total of 566,152 shares worth approximately $33,471,831 and have sold 20,139 shares worth around $1,807,304. Currently, insiders own 17.10% of the company’s stock.
It is advisable for investors to monitor such transactions made by insiders and institutional investors as they can provide valuable insights into a company’s performance and prospects. They often indicate the confidence or lack thereof that these individuals have in the company’s future success.
These transactions also reflect the assessment of Impinj by Tower Research Capital LLC TRC and Sylebra Capital Ltd. Investors can benefit from examining their decisions to buy or sell shares as it may influence their own investment strategies.
In conclusion, these recent disclosures and transactions hold significance for Impinj investors and should serve as a source of information for those interested in understanding the current situation of the company. By staying informed about insider activities in conjunction with other market indicators, investors can make more informed decisions regarding their investments in Impinj.
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Recent Institutional Investment and Hedge Fund Activity Raises Questions about Impinj’s Performance
Impinj, Inc. (NASDAQ: PI) has seen several institutional investors and hedge funds modify their holdings of the company in recent times. Advisors Asset Management Inc. acquired a new stake in Impinj during the first quarter with an approximate value of $39,000. Focused Wealth Management Inc also purchased a new position in Impinj during the same quarter valued at around $54,000. Benjamin F. Edwards & Company Inc. raised its holdings in Impinj by an astonishing 671.4% during the fourth quarter and now owns 540 shares worth $59,000 after buying an additional 470 shares. SJS Investment Consulting Inc. also entered the market with a new position in Impinj during the first quarter with a value of approximately $94,000. Lastly, Quantbot Technologies LP acquired a new position in Impinj during the first quarter valued at approximately $101,000.
Several equity analysts have recently issued reports on PI shares as well. Needham & Company LLC downgraded their price objective on shares of Impinj from $145 to $85 and maintained a “buy” rating on the stock in their report released on Thursday, July 27th. Lake Street Capital also lowered their price objective on Impinj from $130 to $90 in another report released on Thursday, July 27th. However, StockNews.com upgraded Impinj’s shares to a “sell” rating in their report on Thursday, August 24th.
BWS Financial initiated coverage on Impinj giving it a “sell” rating and setting a price target of $45 in their report on Monday, June 26th. TheStreet also downgraded shares of Impinj from a “c-” rating to a “d+” rating in their report published on Monday, May 8th.
The average consensus target price for Impinj’s stock currently stands at $112 according to Bloomberg. Two investment analysts have given the stock a sell rating, while five urge buying shares in the company.
Impinj opened trading at $63 on Thursday with a market capitalization of roughly $1.69 billion. The PE ratio for Impinj is -112.50 and it has a beta of 2.08. The company’s current debt-to-equity ratio stands at 7.64, with a current ratio of 5.57 and a quick ratio of 3.37.
In terms of its trading history, Impinj witnessed a 1-year low of $55.01 and reached a high of $144.90.
On Wednesday, July 26th, Impinj reported its quarterly earnings data, revealing earnings per share (EPS) of ($0.14), which matched the consensus estimates made by analysts prior to release. The company achieved revenue of $85.99 million for the quarter, slightly exceeding analyst estimates which were set at $85.43 million.
Impinj had a negative net margin of 4.65% along with an equally negative return on equity of 23.30%.
Looking ahead, equity research analysts predict that Impinj will post an EPS figure of -1.1 for this current year.
Impinj’s recent activities in terms of institutional investors and hedge funds modifying their holdings have raised questions among industry experts and shareholders alike.
Despite the differing ratings from various equities analysts, Impinj remains an intriguing option for investors to consider despite its recent turbulent performance in the market.