Stock Traders Buy Large Volume of Call Options on Impinj (NASDAQ:PI)

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Impinj, Inc. (NASDAQ:PI) saw unusually large options trading activity on Monday. Stock traders bought 2,990 call options on the company. This represents an increase of 820% compared to the average daily volume of 325 call options.

Several equities analysts have recently weighed in on PI shares. The Goldman Sachs Group lifted their target price on shares of Impinj from $46.00 to $53.00 and gave the company a “buy” rating in a report on Monday, December 14th. Piper Sandler lifted their target price on shares of Impinj from $29.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, December 2nd. ValuEngine lowered shares of Impinj from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 11th. Morgan Stanley lifted their target price on shares of Impinj from $26.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, December 14th. Finally, BidaskClub lowered shares of Impinj from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 30th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.29.

In other Impinj news, CRO Jeffrey Dossett sold 2,500 shares of Impinj stock in a transaction that occurred on Tuesday, December 8th. The shares were sold at an average price of $42.36, for a total transaction of $105,900.00. Following the completion of the sale, the executive now directly owns 24,763 shares in the company, valued at approximately $1,048,960.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 9,359 shares of Impinj stock in a transaction that occurred on Wednesday, January 6th. The shares were sold at an average price of $44.82, for a total transaction of $419,470.38. Following the sale, the chief executive officer now owns 276,247 shares of the company’s stock, valued at $12,381,390.54. The disclosure for this sale can be found here. Insiders sold a total of 19,734 shares of company stock valued at $843,672 over the last quarter. 25.70% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of PI. Assenagon Asset Management S.A. purchased a new position in Impinj in the 3rd quarter worth $8,912,000. Polar Asset Management Partners Inc. increased its position in shares of Impinj by 55.0% in the third quarter. Polar Asset Management Partners Inc. now owns 776,007 shares of the company’s stock valued at $20,448,000 after acquiring an additional 275,218 shares during the period. Neuberger Berman Group LLC increased its position in shares of Impinj by 46.6% in the third quarter. Neuberger Berman Group LLC now owns 515,349 shares of the company’s stock valued at $13,567,000 after acquiring an additional 163,869 shares during the period. Morgan Stanley increased its position in shares of Impinj by 101.0% in the third quarter. Morgan Stanley now owns 294,013 shares of the company’s stock valued at $7,747,000 after acquiring an additional 147,703 shares during the period. Finally, Taylor Frigon Capital Management LLC increased its position in shares of Impinj by 56.6% in the third quarter. Taylor Frigon Capital Management LLC now owns 148,183 shares of the company’s stock valued at $3,905,000 after acquiring an additional 53,554 shares during the period. 82.66% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:PI opened at $54.70 on Tuesday. The business has a 50 day moving average price of $41.11 and a 200 day moving average price of $31.10. Impinj has a twelve month low of $11.47 and a twelve month high of $58.50. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -36.47 and a beta of 2.24. The company has a quick ratio of 5.65, a current ratio of 7.17 and a debt-to-equity ratio of 0.45.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 28th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.03. The firm had revenue of $28.20 million during the quarter, compared to the consensus estimate of $24.90 million. Impinj had a negative return on equity of 14.90% and a negative net margin of 21.57%. Analysts anticipate that Impinj will post -1.57 EPS for the current year.

Impinj Company Profile

Impinj, Inc operates a platform that enables wireless connectivity to various everyday items to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell. The company’s platform includes endpoint integrated circuits (ICs), a miniature radios-on-a-chip that attach-to and identify their host items; and connectivity products that comprise reader ICs and modules, readers, and gateways to wirelessly identify, locate, authenticate, and engage items, as well as provide power to and communicate bidirectionally with endpoint ICs.

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