IMPINJ Sees Unusually Large Options Volume (PI)

IMPINJ Inc (NASDAQ:PI) was the target of some unusual options trading on Monday. Stock investors acquired 12,878 put options on the company. This is an increase of 1,526% compared to the typical volume of 792 put options.

A number of research analysts have recently issued reports on PI shares. Zacks Investment Research downgraded IMPINJ from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Needham & Company LLC cut their price target on IMPINJ from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. BidaskClub downgraded IMPINJ from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Royal Bank of Canada cut their price target on IMPINJ from $50.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Finally, Piper Jaffray Companies downgraded IMPINJ from an “overweight” rating to a “neutral” rating in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $26.29.

IMPINJ (NASDAQ PI) opened at $11.41 on Thursday. IMPINJ has a one year low of $11.31 and a one year high of $60.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.97 and a current ratio of 7.49. The firm has a market capitalization of $239.13 and a price-to-earnings ratio of -30.03.

In other IMPINJ news, insider Eric Brodersen sold 5,400 shares of IMPINJ stock in a transaction on Friday, November 17th. The stock was sold at an average price of $25.43, for a total transaction of $137,322.00. Following the completion of the sale, the insider now directly owns 78,743 shares of the company’s stock, valued at approximately $2,002,434.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Evan Fein sold 5,700 shares of IMPINJ stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $25.01, for a total value of $142,557.00. Following the sale, the chief financial officer now directly owns 17,500 shares of the company’s stock, valued at $437,675. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,400 shares of company stock valued at $363,006. 15.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. purchased a new position in IMPINJ during the 4th quarter worth $225,000. Taylor Frigon Capital Management LLC purchased a new position in IMPINJ during the 4th quarter worth $2,056,000. Pier 88 Investment Partners LLC grew its stake in IMPINJ by 149.8% during the 4th quarter. Pier 88 Investment Partners LLC now owns 19,178 shares of the company’s stock worth $432,000 after buying an additional 11,500 shares during the last quarter. WealthTrust Arizona LLC purchased a new position in IMPINJ during the 4th quarter worth $144,000. Finally, Hartline Investment Corp lifted its position in IMPINJ by 34.6% during the 3rd quarter. Hartline Investment Corp now owns 79,831 shares of the company’s stock worth $3,322,000 after acquiring an additional 20,501 shares during the period. Hedge funds and other institutional investors own 80.39% of the company’s stock.

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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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