JPMorgan Chase & Co. increased its stake in shares of IMPINJ Inc (NYSE:PI) by 245.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 576,631 shares of the company’s stock after buying an additional 409,635 shares during the period. JPMorgan Chase & Co.’s holdings in IMPINJ were worth $17,455,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital Impact Advisors LLC bought a new stake in IMPINJ during the first quarter valued at $1,643,000. Hillman Co. acquired a new position in IMPINJ during the first quarter valued at approximately $337,000. Baird Financial Group Inc. acquired a new position in IMPINJ during the first quarter valued at approximately $487,000. Quadrature Capital Ltd acquired a new position in IMPINJ during the fourth quarter valued at approximately $609,000. Finally, Russell Investments Group Ltd. acquired a new position in IMPINJ during the fourth quarter valued at approximately $1,712,000.

Institutional Ownership by Quarter for IMPINJ (NYSE:PI)

IMPINJ Inc (NYSE PI) opened at 55.71 on Friday. The firm’s market cap is $1.15 billion. The company’s 50 day moving average is $43.06 and its 200-day moving average is $34.94. IMPINJ Inc has a 52 week low of $16.36 and a 52 week high of $55.96.

IMPINJ (NYSE:PI) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $31.70 million for the quarter, compared to analyst estimates of $30.81 million. The firm’s revenue for the quarter was up 46.8% on a year-over-year basis. Equities analysts expect that IMPINJ Inc will post $0.24 earnings per share for the current year.

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Several equities analysts have commented on PI shares. Zacks Investment Research upgraded shares of IMPINJ from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, April 25th. Morgan Stanley started coverage on shares of IMPINJ in a research note on Thursday, February 23rd. They issued an “overweight” rating and a $40.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of IMPINJ in a research note on Thursday, March 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $50.00 price target (up previously from $42.00) on shares of IMPINJ in a research note on Sunday, May 28th. Finally, Canaccord Genuity restated a “buy” rating and issued a $38.00 price target on shares of IMPINJ in a research note on Friday, May 12th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. IMPINJ has an average rating of “Buy” and a consensus target price of $38.88.

In other IMPINJ news, Director Oppen Peter H. Van sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $39.25, for a total transaction of $981,250.00. Following the completion of the transaction, the director now directly owns 80,595 shares of the company’s stock, valued at approximately $3,163,353.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Brodersen sold 10,200 shares of the firm’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $35.31, for a total transaction of $360,162.00. Following the transaction, the insider now directly owns 131,143 shares of the company’s stock, valued at $4,630,659.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,973 shares of company stock valued at $3,960,452.

About IMPINJ

Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.

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