AQR Capital Management LLC Makes New Investment in IMPINJ Inc (NASDAQ:PI)

AQR Capital Management LLC bought a new position in IMPINJ Inc (NASDAQ:PI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,499 shares of the company’s stock, valued at approximately $300,000.

Other large investors have also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group purchased a new position in shares of IMPINJ in the first quarter valued at $190,000. Scout Investments Inc. grew its position in shares of IMPINJ by 65.3% in the second quarter. Scout Investments Inc. now owns 146,365 shares of the company’s stock valued at $4,189,000 after purchasing an additional 57,817 shares in the last quarter. SOL Capital Management CO purchased a new position in shares of IMPINJ in the second quarter valued at $233,000. SG Americas Securities LLC purchased a new position in shares of IMPINJ in the second quarter valued at $2,665,000. Finally, Ibex Investors LLC purchased a new position in shares of IMPINJ in the second quarter valued at $236,000. 70.42% of the stock is owned by institutional investors and hedge funds.

NASDAQ:PI opened at $30.97 on Friday. The firm has a market capitalization of $684.90 million, a price-to-earnings ratio of -45.54 and a beta of 2.67. IMPINJ Inc has a 52-week low of $13.25 and a 52-week high of $40.24. The stock has a fifty day moving average of $33.53 and a 200 day moving average of $29.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.08 and a current ratio of 5.95.

IMPINJ (NASDAQ:PI) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. The company had revenue of $38.19 million during the quarter, compared to analyst estimates of $34.95 million. IMPINJ had a negative return on equity of 7.65% and a negative net margin of 17.31%. The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) earnings per share. Equities analysts forecast that IMPINJ Inc will post -0.44 earnings per share for the current fiscal year.

In other IMPINJ news, CEO Chris Ph.D. Diorio sold 18,257 shares of IMPINJ stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $35.00, for a total transaction of $638,995.00. Following the completion of the sale, the chief executive officer now owns 271,278 shares of the company’s stock, valued at $9,494,730. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tom A. Alberg sold 35,714 shares of IMPINJ stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $37.54, for a total value of $1,340,703.56. Following the sale, the director now directly owns 78,782 shares of the company’s stock, valued at approximately $2,957,476.28. The disclosure for this sale can be found here. Insiders have sold 145,312 shares of company stock valued at $5,189,924 in the last three months. 28.00% of the stock is owned by corporate insiders.

Several equities analysts have recently weighed in on PI shares. ValuEngine cut IMPINJ from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Piper Jaffray Companies lifted their price target on IMPINJ from $32.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. BidaskClub lowered IMPINJ from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Canaccord Genuity reissued a “buy” rating and set a $42.00 price objective (up previously from $39.00) on shares of IMPINJ in a research note on Friday, August 16th. Finally, TheStreet raised IMPINJ from a “d” rating to a “c-” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. IMPINJ currently has a consensus rating of “Buy” and an average price target of $38.75.

About IMPINJ

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item's unique identity, location, and authenticity 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.

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Institutional Ownership by Quarter for IMPINJ (NASDAQ:PI)

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