Nicholas Investment Partners LP Invests $2.59 Million in IMPINJ Inc (PI)

Nicholas Investment Partners LP acquired a new stake in shares of IMPINJ Inc (NYSE:PI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 85,622 shares of the company’s stock, valued at approximately $2,592,000.

A number of other institutional investors have also recently made changes to their positions in the stock. American International Group Inc. purchased a new position in shares of IMPINJ during the first quarter valued at approximately $112,000. First Washington CORP purchased a new position in shares of IMPINJ during the first quarter valued at approximately $122,000. Nordea Investment Management AB purchased a new position in shares of IMPINJ during the first quarter valued at approximately $127,000. ClariVest Asset Management LLC purchased a new position in shares of IMPINJ during the first quarter valued at approximately $127,000. Finally, Herald Investment Management Ltd purchased a new position in shares of IMPINJ during the first quarter valued at approximately $151,000.

Institutional Ownership by Quarter for IMPINJ (NYSE:PI)

IMPINJ Inc (NYSE PI) traded up 19.11% during trading on Friday, hitting $55.71. The stock had a trading volume of 2,235,037 shares. The stock’s market capitalization is $1.15 billion. The stock’s 50-day moving average is $42.59 and its 200-day moving average is $34.73. IMPINJ Inc has a 52-week low of $16.36 and a 52-week high of $55.96.

IMPINJ (NYSE:PI) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $31.70 million for the quarter, compared to analysts’ expectations of $30.81 million. The business’s quarterly revenue was up 46.8% on a year-over-year basis. On average, analysts predict that IMPINJ Inc will post $0.24 earnings per share for the current fiscal year.

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Several equities analysts have commented on PI shares. Zacks Investment Research raised IMPINJ from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, April 25th. Royal Bank of Canada reissued a “buy” rating and set a $40.00 price objective on shares of IMPINJ in a research report on Friday, March 31st. Morgan Stanley reissued a “buy” rating and set a $40.00 price objective on shares of IMPINJ in a research report on Tuesday, March 21st. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of IMPINJ in a research report on Thursday, March 2nd. Finally, Canaccord Genuity reissued a “buy” rating and set a $38.00 price objective on shares of IMPINJ in a research report on Friday, May 12th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. IMPINJ has a consensus rating of “Buy” and an average price target of $38.88.

In related news, Director Oppen Peter H. Van sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $39.25, for a total transaction of $981,250.00. Following the completion of the sale, the director now directly owns 80,595 shares in the company, valued at approximately $3,163,353.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Brodersen sold 5,400 shares of the company’s stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $28.36, for a total value of $153,144.00. Following the sale, the insider now owns 136,343 shares of the company’s stock, valued at $3,866,687.48. The disclosure for this sale can be found here. Insiders have sold a total of 97,973 shares of company stock valued at $3,960,452 over the last 90 days.

IMPINJ Company Profile

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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