Quent Capital LLC Grows Stock Position in Impinj, Inc. (NASDAQ:PI)

Quent Capital LLC increased its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 95.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,850 shares of the company’s stock after buying an additional 2,850 shares during the quarter. Quent Capital LLC’s holdings in Impinj were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC purchased a new position in shares of Impinj in the 2nd quarter worth about $435,000. Covea Finance raised its holdings in shares of Impinj by 100.0% in the 2nd quarter. Covea Finance now owns 18,000 shares of the company’s stock worth $1,614,000 after purchasing an additional 9,000 shares during the period. Level Four Advisory Services LLC purchased a new position in shares of Impinj in the 1st quarter worth about $657,000. Garde Capital Inc. raised its holdings in shares of Impinj by 65.4% in the 1st quarter. Garde Capital Inc. now owns 4,425 shares of the company’s stock worth $600,000 after purchasing an additional 1,750 shares during the period. Finally, Capital Impact Advisors LLC raised its holdings in shares of Impinj by 6.3% in the 1st quarter. Capital Impact Advisors LLC now owns 5,763 shares of the company’s stock worth $781,000 after purchasing an additional 339 shares during the period.

Insider Buying and Selling at Impinj

In other Impinj news, COO Hussein Mecklai sold 624 shares of Impinj stock in a transaction on Monday, June 26th. The stock was sold at an average price of $85.77, for a total transaction of $53,520.48. Following the sale, the chief operating officer now owns 34,598 shares of the company’s stock, valued at approximately $2,967,470.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Chris Ph.D. Diorio sold 1,035 shares of Impinj stock in a transaction on Monday, June 26th. The stock was sold at an average price of $85.78, for a total transaction of $88,782.30. Following the transaction, the chief executive officer now directly owns 295,104 shares in the company, valued at approximately $25,314,021.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Hussein Mecklai sold 624 shares of Impinj stock in a transaction on Monday, June 26th. The shares were sold at an average price of $85.77, for a total value of $53,520.48. Following the transaction, the chief operating officer now owns 34,598 shares in the company, valued at $2,967,470.46. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 674,101 shares of company stock valued at $40,527,175 and have sold 17,256 shares valued at $1,388,645. 17.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BWS Financial assumed coverage on Impinj in a research note on Monday, June 26th. They issued a “sell” rating and a $45.00 target price for the company. Lake Street Capital lowered their target price on Impinj from $130.00 to $90.00 in a research note on Thursday, July 27th. StockNews.com upgraded Impinj to a “sell” rating in a research note on Thursday, August 24th. Finally, Needham & Company LLC lowered their target price on Impinj from $145.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $112.00.

Impinj Trading Down 2.1 %

NASDAQ:PI opened at $63.91 on Friday. The company has a quick ratio of 3.37, a current ratio of 5.57 and a debt-to-equity ratio of 7.64. The business’s 50 day moving average is $68.66 and its two-hundred day moving average is $96.79. Impinj, Inc. has a 52 week low of $55.01 and a 52 week high of $144.90. The company has a market cap of $1.72 billion, a PE ratio of -114.12 and a beta of 2.09.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, July 26th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $85.99 million for the quarter, compared to the consensus estimate of $85.43 million. Impinj had a negative return on equity of 23.30% and a negative net margin of 4.65%. On average, analysts predict that Impinj, Inc. will post -1.1 EPS for the current year.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.