Ice Pond Lane Advisers, LLC Owns Stake in IMPINJ Inc (PI)

Ice Pond Lane Advisers, LLC

recently revealed that they own a 4.8% stake in IMPINJ Inc (NYSE:PI) in a Form 13G disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, August 11th. The investor owns 1,009,076 shares of the stock valued at about $33,915,044. The reporting parties listed on the disclosure included Ice Pond Lane Advisers, LLC and IPL Advisers, LLC. The disclosure is available through EDGAR at this hyperlink.

Ice Pond Lane Advisers, LLC

provided the following explanation of their ownership:

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A number of other institutional investors have also recently bought and sold shares of the stock. Nationwide Fund Advisors increased its stake in IMPINJ by 67.7% in the second quarter. Nationwide Fund Advisors now owns 43,808 shares of the company’s stock valued at $2,131,000 after buying an additional 17,690 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in IMPINJ during the second quarter valued at about $1,228,000. TIAA CREF Investment Management LLC increased its stake in IMPINJ by 177.6% in the second quarter. TIAA CREF Investment Management LLC now owns 48,658 shares of the company’s stock valued at $2,367,000 after buying an additional 31,133 shares in the last quarter. Teachers Advisors LLC increased its stake in IMPINJ by 174.2% in the second quarter. Teachers Advisors LLC now owns 32,599 shares of the company’s stock valued at $1,586,000 after buying an additional 20,709 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in IMPINJ by 137.8% in the second quarter. Wells Fargo & Company MN now owns 17,098 shares of the company’s stock valued at $832,000 after buying an additional 9,909 shares in the last quarter.

IMPINJ Inc (NYSE PI) traded up 1.28% during midday trading on Friday, hitting $34.04. The company’s stock had a trading volume of 69,819 shares. The firm’s market cap is $710.01 million. IMPINJ Inc has a 12 month low of $19.55 and a 12 month high of $60.85. The company’s 50 day moving average price is $49.82 and its 200 day moving average price is $39.52.

IMPINJ (NYSE:PI) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The business had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $33.41 million. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 EPS. Analysts expect that IMPINJ Inc will post $0.06 EPS for the current year.

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PI has been the topic of several recent research reports. Zacks Investment Research upgraded IMPINJ from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Tuesday, April 25th. Royal Bank Of Canada dropped their target price on IMPINJ from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, May 5th. Canaccord Genuity restated a “buy” rating and set a $38.00 target price on shares of IMPINJ in a research report on Friday, May 12th. Morgan Stanley downgraded IMPINJ from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $40.00 to $51.00 in a research report on Monday, June 19th. Finally, KeyCorp downgraded IMPINJ to a “hold” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $43.63.

In other news, Director Oppen Peter H. Van sold 25,000 shares of IMPINJ stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $39.25, for a total transaction of $981,250.00. Following the transaction, the director now owns 80,595 shares in the company, valued at approximately $3,163,353.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Eric Brodersen sold 3,500 shares of IMPINJ stock in a transaction on Monday, July 17th. The stock was sold at an average price of $53.21, for a total transaction of $186,235.00. Following the transaction, the chief operating officer now owns 106,743 shares in the company, valued at approximately $5,679,795.03. The disclosure for this sale can be found here. Insiders have sold a total of 85,666 shares of company stock worth $3,857,412 in the last quarter.

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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